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Dollar-yen: European open Y111.81,......>

YEN SUMMARY
YEN SUMMARY: Dollar-yen: European open Y111.81, range Y111.80-112.09, NY open
Y112.01, range Y111.85-112.17
*Consolidation remained the theme, dollar-yen managed to grind out a fresh
European high of Y112.09. The rate drifted back under Y112.00 as NY entered the
fray.
*Firmer UST yields provide added support to Y112.09 and a re-test of
the European morning high.
*As US Tsys yields fell the rate followed suit with the rate dropping to Y111.86
before meeting demand and grinding towards Y111.95.
*Following US Tsys yields paring back some of its losses, the rate followed suit
grinding towards Y112.05.
*The dollar continued to grind higher across the board, as the rate crept
towards Y112.20.
*As US Tsys yields slipped, the pair continued to follow with the
rate falling back towards Y112.00.

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