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Dollar-yen: Europe open Y112.15,........>

YEN SUMMARY
YEN SUMMARY: Dollar-yen: Europe open Y112.15, range Y111.86-112.19, NY open
Y112.14, range Y111.69-112.27
*Persistent cross supply added fresh weight to Y111.92, but later staged a
recovery to the Y112.10/15 area in late European trade.
*The stg-yen break of Y149.00 provided added support in early NY with rate
grinding towards Y112.25.
*The release of soft headline and core CPI triggered fresh dollar
sales with a move back under Y112.00, rate touched extended pullback lows of
Y111.69.
*Broad based dollar demand into the European close, as profit takers
emerged witnessed the rate grind back towards Y112.00. Traders reported light
resistance at Y112.00.
*As US Tsys yields slipped and XAU rose, in reaction to the FED's Kaplin
witnessed the rate drop towards Y111.80.
*The pair bounced between Y111.80/90 for the majority of the NY afternoon, as
the market looked to reaction from Iran after President Trump's speech. 

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