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Dollar-yen: European open Y113.98,......>

YEN SUMMARY: Dollar-yen: European open Y113.98, range Y113.97-114.34, NY open
Y114.14, range Y113.83-114.30
*Starts to feel the weight of yen crosses and extends the corrective
pullback off earlier traded highs (Y114.34) to Y114.09 into NY.
*Broad based yen pressure, combined with a sharp drop in gold, as the
US senate banking commission approve sanctions on NK, has seen the rate grind
towards the intra-day high of Y114.34 before fading.
*A sharp turn in the dollar, as US Tsys yields drop along with the
Dow and gold rallies, as the rate drops back towards Y114.00 before
rebounding slightly.
*Following US Tsys yields and the Dow dropping has seen a fresh round
of dollar selling with the rate dropping from Y114.10 towards Y113.80
be fore bouncing back towards Y113.90.

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