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Free AccessDollar-yen: European open Y113.91,......>
YEN SUMMARY: Dollar-yen: European open Y113.91, range Y113.73-114.03, NY open
Y113.99, range Y113.75-Y114.28
*Persistent demand via the crosses finally made a break of Y114.00, touched
extended highs of Y114.03 before fading ahead of NY.
*The release of strong US ADP Employment data (235k vs median 200k)
spiked to react highs of Y114.19, before lower revisions countered.
*Minor slippage off the high to Y114.19 after the release of marginally
weaker-than-expected US ISM mfg data.
*Following US Tsys yields losing ground and XAU rallying, the rate
dropped to pullback lows of Y113.86 before meeting demand and grinding back
towards Y114.00.
*The dollar came under a little pressure after the FOMC with a
December hike still very much in play. The pair has dropped towards Y113.70, US
Tsys yields bounced and the rate grinded towards Y114.00.
*Another wave of dollar demand, as US tsys yields continued to gain, saw the
rate grind towards Y114.20 into the NY close.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.