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Dollar-yen: Jul28 close Y110.58,........>

YEN SUMMARY
YEN SUMMARY: Dollar-yen: Jul28 close Y110.58, Jul31 Asia range Y110.31-74,
Europe Y110.47-77
*Euro-yen: Jul28 close Y130.01, Jul31 Asia range Y129.55-130.12, Europe
Y129.67-96
*Dollar-yen opened heavy in Asia as Trump and Abe agreed further action needs to
be taken on North Korea
*Tokyo-fix related supply emerged, soft UST yields pressured to Y110.31
*Once the fix was concluded, dip buyers aided the recovery to hold Y110.45-60 
*UST yields firmed into Europe, rate moved through the Asia high to Y110.65
*Minor pullback encountered fresh demand interest, rate squeezed to Y110.77
before fading
*As risk improved into Europe, euro-yen continued to pare o/n losses, rate
lifted in tandem with the dollar to Y129.96, offers capped ahead of Y130.00 
*Euro-yen held Y129.70-80 ahead of key EU inflation data. Headline CPI came
in-line, core ticked higher to 1.2%. Rate touched react highs of Y129.94 but
soon faded. Yen pairs last Y129.90/Y110.63.

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