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Dollar-yen: Jul31 close Y110.28, Aug1...>

YEN SUMMARY
YEN SUMMARY: Dollar-yen: Jul31 close Y110.28, Aug1 Asia range Y110.01-42, Europe
Y110.09-43
*Euro-yen: Jul31 close Y130.45, Aug11 Asia range Y130.15-58, Europe Y130.20-51
*Macro names were the standout sellers in Asia, post-fix dollar-yen printed lows
of Y110.01
*Demand ahead of the Y110.00 barrier cushioned, rate recovered to hold
Y110.15/20 for the balance of the session
*Consolidation remained the theme in early Europe, rate was largely held to a
narrow Y110.15-28 range
*Soft UST yields started to add weight, dollar-yen touched pullback lows of
Y110.09 but was quick to pare losses
*Persistent stg-yen demand following the release of strong UK mfg PMI data
provided fresh appetite to Y110.30, before a second wave squeezed to Y110.43
*The cross encountered early euro pressure with recovery attempts seen shallow
*Following the well received UK data euro-yen printed extended session highs of
Y130.51 before light profit take sales eased. Yen pairs last Y110.37/Y130.38.

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