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Dollar-yen: Nov6 close Y113.75, Nov7....>

YEN SUMMARY
YEN SUMMARY: Dollar-yen: Nov6 close Y113.75, Nov7 Asia range Y113.70-114.01,
Europe Y113.97-114.34
*Euro-yen: Nov6 close Y132.07, Nov7 Asia range Y132.00-35, Europe Y132.06-42
*Japanese names were the early buyers in Asia, dollar-yen lifted from Y113.70 to
Y113.82 before fading
*UST yields continued firm, rate managed to grind out a high of Y114.01 but with
lack of follow through drifted ahead of Europe
*As the Nikkei surged to its highest close since 1992, UST yields provided the
early support. The break back above Y114.00 triggered demand from momentum-type
accounts to Y114.15
*Persistent demand interest squeezed to extended highs of Y114.34
*Euro-yen extended its corrective pullback off earlier traded highs (Y132.42) to
Y132.10. Dip buyers cushioned falls, recovery efforts squeezed to Y132.31 before
fresh eur-usd sales witnessed a deeper reversal to Y132.06
*Light demand is noted on approach to Y132.00 as traders eye the reported
eur-usd barrier at $1.1550 for clearer direction.

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