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Dollar-yen: European open Y110.52,......>

YEN SUMMARY
YEN SUMMARY: Dollar-yen: European open Y110.52, range Y110.47-110.77, NY open
Y110.57, range Y110.29-110.66
*Held near the base of its narrow Y110.50-77 morning range in early
NY.
*The recovery off early NY traded lows (Y110.50) extended to Y110.66
before fading.
*Slipped to Y110.53 on extended react to the soft MNI Chicago Business
Barometer release.
*Despite the release of marginally better-than-expected US Pending
Home Sales, dollar-yen moved back under Y110.50 to Y110.43.
*Following a sharp spike in eur/usd, the rate has dropped back under
Y110.40. The move also coincided with US Tsys yields slipping.
*The dollar comes under end of day pressure, as the rate slid to a new intra-day
low of Y110.22. 

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