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Dollar-yen: European open Y109.26,......>

YEN SUMMARY
YEN SUMMARY: Dollar-yen: European open Y109.26, range Y109.17-47, NY open
Y109.30, range Y109.14-109.48
*Minor pullback in early Europe encountered willing dip buyers ahead of Y109.15.
As UST yields firmed, dollar-yen was quick to take out the Asia high, gains
extended to Y109.46 before profit take sales emerged off the high
*Fresh dollar demand linked to firmer UST yields extend the recovery
off recent traded lows (Y109.23) to print a new intra-day high of Y109.48 in
early NY, before retreating towards Y109.35.
*The release of stronger-than-expected US Richmond Fed mfg triggered
reported stops through Y109.50, gains extended to Y109.55 before fading back
towards Y109.10 as US Tsys Yields fell. The pair met demand and grinded towards
Y109.30.
*The pair received a lift at the 4PM WMR, as the rate headed towards
Y109.50, as the fix came to a close the rate slipped back towards Y109.35.
*The dollar got a small lift as US Tsys rose, with the rate grinding
towards the intra-day high of Y109.55 into the NY close.

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