Dollar-yen: Europe open Y112.83,........>

YEN SUMMARY: Dollar-yen: Europe open Y112.83, range Y112.75-113.06, NY open

Y112.79, range Y112.54-112.93

*As UST yields started to firm, rate managed to grind out a fresh high of

Y112.95. Second wave demand took out offers through Y113.00 with gains extending

to Y113.06

*As recovery efforts continued shallow, dollar-yen felt weight via

the crosses to Y112.77 and a re-test of European morning lows in early NY.

*Having earlier stalled ahead of Y112.90, fresh dollar supply linked

to soft UST yields pressured through the European morning low to Y112.55.

*The release of strong US ISM mfg data triggered broad dollar demand,

rate touched react highs of Y112.94 before fading.

*The rate dropped back to pullback lows of Y112.54 as profit takers emerged, US

Tsys yields firmed and the pair followed suit grinding towards Y112.75.

*The dollar came under a fresh wave of pressure in reaction to the

the Fed's kaplin repeating "Fed can afford to be patient", with the rate

dropping towards Y112.60.