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Dollar-yen: European open Y108.97,......>

YEN SUMMARY
YEN SUMMARY: Dollar-yen: European open Y108.97, range Y108.91-109.27, NY open
Y109.76, range Y108.74-109.40
- The pair received a lift in early NY, as US Tsys yields bounced off their
lows. The rate grinded towards the intra-day high of Y109.27.
- The release of soft US CPI triggered sharp dollar sales through Y109.00, stops
targeted and triggered on the break of Y108.80 extended to Y108.74 before dip
buyers cushioned falls.
- Having pared post US CPI release losses, yen crosses supported with a move to
fresh daily highs of Y109.40. Traders suggested Russian Foreign Minister Lavrov
remarks (Rtrs) that said there is a Russian-Chinese plan to defuse situation,
behind the move.
- The dollar pared back its gains, following a dovish tone from the Fed's Kaplan
as the rate dropped towards Y109.00.
- The dollar recieved a lift, following US Tsys yields rising with the rate
grinding towards Y109.20 in to the NY close.

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