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Dollar-yen: Europe open Y112.45,........>

YEN SUMMARY
YEN SUMMARY: Dollar-yen: Europe open Y112.45, range Y112.19-112.48, NY open
Y112.23, range Y112.08-112.55
*The dollar received a small lift following US Tsys yields in early NY with the
rate grinding towards Y112.35.
*Following a slip in US Tsys yields and a bounce in XAU, the rate
dropped to a fresh intraday low of Y112.08.
*Having earlier touched pullback lows of Y112.08, demand ahead of
Y112.05/00 cushioned falls with recovery efforts extending to the Y112.20/25
area.
*As eur/yen broke Y133.00, triggering stops and marching on to
Y133.20, usd/yen followed suit, jumping from Y112.25 towards Y112.45.
*US Tsys yields received a small lift just ahead of the release of the
FOMC minutes, as the rate headed towards the intraday high of Y112.59.
*The dollar lost a little ground after the release of the FOMC
minutes with no real changes or surprises in the minutes. The rate dropped
towards Y112.30.

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