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Dollar-yen: European open Y110.03,......>

YEN SUMMARY
YEN SUMMARY: Dollar-yen: European open Y110.03, range Y109.77-110.06, NY open
Y109.83, range Y109.19-109.68
*Continued heavy in early NY to grind out a fresh low of Y109.73, following US
Tsys yields.
*Soft headline US PPI and components triggered fresh dollar supply to
Y109.55
*Recovery efforts seen shallow as the rate sat just off post PPI
lows (Y109.55) at Y109.65.
*Dovish Fed Dudley remarked on wages triggered fresh dollar sales
through Y109.50 support. Stops were triggered on the move to print
a new intra-day low of Y109.40.
*A fresh wave of dollar sales following a dovish tone from the Fed's
Dudley witnessed the rate fall to a new intra-day low of Y109.31.
*Continued pressure on the dollar, following concerns over North
Korea and the dovish tone from the Fed's Dudley saw the rate fall to a new
intra-day low 0f Y109.19.

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