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Dollar-yen: European open Y112.99,......>

YEN SUMMARY
YEN SUMMARY: Dollar-yen: European open Y112.99, range Y112.44-113.15, NY open
Y112.51, range Y112.30-112.63
* Feels the weight of soft UST yields with slippage extending to the
Y112.58/63 area in late European trade.
* Continued on the defensive with a move to fresh daily lows of
Y112.44 ahead of NY. The arrival of NY witnessed a small bounce towards Y112.55.
*The dollar took another sharp leg lower to Y112.30 ahead of weekly
Jobless Claims & Phila Fed data, the move followed a sharp drop in US Tsys
yields.
*Minor recovery off recent traded lows (Y112.30) to Y112.42 after the
release of well received US data.
*A bounce in US Tsys yields witnessed the rate grind to recovery highs of
Y112.63 before fading back towards Y112.40.
*With XAU paring back some of its gains and US Tsys yields firming,
the pair followed suit with the rate grinding back towards Y112.60.

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