Dollar-yen: Oct10 close Y112.40,........>

YEN SUMMARY: Dollar-yen: Oct10 close Y112.40, Oct11 Asia range Y112.23-59,

Europe Y112.19-48

*Euro-yen: Oct10 close Y132.80, Oct11 Asia range Y132.70-90, Europe Y132.65-97

*Despite overnight remarks from Fed Kaplan that warned a low 10-year yield is an

ominous sign, dollar-yen managed to recover off Asia lows of Y112.23

*Japanese accounts provided support, rate squeezed to Y112.59 but with lack of

follow through drifted to hold Y112.40-50 for the balance of the session

*As recovery efforts remained shallow into Europe, UST yields started to

pressure, dollar-yen moved through the Asia low to Y112.19

*Euro-yen consolidated in a narrow 20 pip Asia range. This continued into Europe

with offers ahead of Y133.00 capping topside gains

*Sharp pullback late morning saw the cross slip from Y132.97 to Y132.65, before

dip buyers cushioned falls

*Very light on the data front today with main focus on the FOMC minutes at

1800GMT. Also worthy of note we have Chicago Fed President Evans speaking at

1115GMT, followed by SF Fed Williams at 1840GMT.