Dollar-yen: European open Y113.59,......>

YEN SUMMARY: Dollar-yen: European open Y113.59, range Y113.25-113.66, NY open

Y113.32, range Y113.09-113.69

*The arrival of NY witnessed the rate touch fresh lows of 13.24 before getting a

lift back towards Y113.45.

*As the dollar firmed across the board traders were left scratching

their heads on the move. Dollar-yen climbed nearly 20 pips to Y113.55

*As US Tsy yields firmed and the Dow pared back some of its losses, the

rate grinded to recovery highs of Y113.68.

*A sharp drop in the dollar as US Tsys yields slipped, in-reaction to

Cassidy comment" Senate tax bill would delay corporate rate cut to 2019". The

pair dropped towards Y113.35.

*The dollar continued to feel weight, as stocks declined further over

concerns of the tax plan continued and Saudi Arabia. The pair went onto print

fresh session

lows of Y113.09 before paring some of its losses into the close.