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Dollar-yen: Europe open Y111.64,........>

YEN SUMMARY
YEN SUMMARY: Dollar-yen: Europe open Y111.64, Europe range Y111.56-88, NY open
Y111.57, range Y111.20-111.59
*The dollar encountered fresh selling pressure into NY, rate moved
through the European low to Y111.49 before dip buyers cushioned falls.
*Stronger than expected US Building Permits/Housing Starts with added
improved revisions witnessed the dollar extend its recovery off earlier traded
lows (Y111.42) to Y111.57, before fading.
* The dollar failed to build and pared post US data gains to print
fresh daily lows of Y111.25, dip buyers emerged pushing the rate towards
Y111.50.
*A sharp drop in the pair, in react to Trumps comment, "that we will
destroy NK if they continue", the rate fell to a fresh intra-day low of Y111.20
before bouncing back towards Y111.40.
*The dollar continued to pare back its losses as US Tsys yields moved
higher, as the rate grinded towards Y111.80, before meeting supply and dropping
towards Y111.40.Dip buyers emerged pushing the rate back over Y111.50

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