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Dollar-yen: Europe open Y113.05,........>

YEN SUMMARY
YEN SUMMARY: Dollar-yen: Europe open Y113.05, range Y112.61-113.21, NY open
Y112.66, range Y112.34-112.77
*The dollar continued defensive with slippage extending to fresh
daily lows of Y112.61 into the NY open.
*Supply via the crosses (eur-jpy/aud-jpy) pressured to fresh daily
lows of Y112.56.
*The dollar received a lift to Y112.62 after the release of marginally
better US 2Q GDP data, before immediately paring light gains.
*Following a spike in US Tsys yields, the rate followed suit,
jumping from its fresh intraday low of Y112.47 to recovery highs of Y112.74, the
rate met resistance and fell back towards Y112.60.
*A drop in US Tsys yields after comments by Pelosi regarding Trump's
tax plan, witnessed the rate follow suit, dropping to a fresh intra-day low of
Y112.34.
*The dollar regains some of its losses towards the NY close, as dip buyers
emerged with the rate grinding towards Y112.50. 

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