Dollar-yen: European open Y113.63,......>

YEN SUMMARY: Dollar-yen: European open Y113.63, range Y113.59-91, NY open

Y113.65, range Y113.31-113.64

*Sharp falls in gold linked to CME selling triggered further yen weakness,

Usd/Jpy squeezed to Y113.91 but with lack of follow through drifted lower.

*The yen clawed back its losses as gold bounced and US Tsys yields slipped with

the rate drifting towards the session lows in early NY.

*As the dollar continued defensive with UST yields, rate touched

pullback lows of Y133.44 before fading.

*Received a minor lift to Y113.59 on the release of stronger-than-expected

headline and component US PPI data, before fading.

*As UST yields fell the dollar was dragged to fresh session lows of Y113.31.

*The pair received a lift as eur/yen spiked and US Tsys yields pared back some

of its losses, the rate jumped to recovery highs of Y113.56.

*A fresh wave of pressure following gold jumping and US Tsys yields slipping saw

the rate slip towards the session low.