Dollar-yen: Nov8 close Y113.80, Nov9....>

YEN SUMMARY: Dollar-yen: Nov8 close Y113.80, Nov9 Asia range Y113.44-114.07,

Europe Y113.39-66

*Euro-yen: Nov8 close Y132.00, Nov9 Asia range Y131.64-132.26, Europe Y131.52-98

*As Japanese equities soared to 25-year highs, dollar-yen lifted back above

Y114.00 in early Asia. Gains extended to Y114.07, before profit take sales eased

*A sharp fall in the Nikkei followed, dollar-yen was quick to pare gains and

touched pullback lows of Y113.44 with some attributing the move to reports that

China is upping their trade and imports to the US

*Recovery efforts remained laboured during the European morning session. A

combination of soft UST yields/Nikkei futures weighed, cross sales added to the

risk averse markets with a move through the Asia low to Y113.39

*The euro opened on a bid tone, euro-yen squeezed to Y131.98 but with lack of

follow through pared early gains

*A turn in Eur/Usd triggered broad selling pressure as the cross moved through

the Asia low with ease. Rate touched extended pullback lows of Y131.52 with next

support at Y131.40 (Nov8 low). Yen pairs last Y113.48/Y131.67.