Dollar-yen: Nov7 close Y113.95, Nov8....>

YEN SUMMARY: Dollar-yen: Nov7 close Y113.95, Nov8 Asia range Y113.64-114.03,

Europe Y113.65-93

*Euro-yen: Nov7 close Y132.05, Nov8 Asia range Y131.80-132.14, Europe

Y131.81-132.17

*Reports in the Washington Post that said Senate Republican leaders are

considering a one-year delay in the implementation of a major corporate tax cut,

set the risk-off tone in early Asia

*Macro names were the stand-out sellers, dollar-yen touched Y113.64 before dip

buyers emerged off the low

*Recovery efforts continued into Europe gains extended to Y113.93 but with lack

of follow through drifted

*Consolidation largely remained the theme, before a late slip in UST yields

pressured to Y113.65 

*The cross tracked usd/jpy in early trade, the break of Y132.00 triggered

renewed demand from momentum-type accounts to highs of Y132.17

*The pair started to drift, but later found a base ahead of Y131.80.