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Dollar-yen: Sep19 close Y111.49,........>

YEN SUMMARY
YEN SUMMARY: Dollar-yen: Sep19 close Y111.49, Sep20 Asia range Y111.45-65,
Europe Y111.34-52
*Euro-yen: Sep19 close Y133.75, Sep20 Asia range Y133.73-134.03, Europe
Y133.64-95
*Asia largely marked time ahead of today's FOMC, however, fix related demand saw
dollar-yen rise from around Y111.50 to Y111.65
*Modest dollar weakness on softer US TSY yields pared gains to Y111.45, but the
move lower was somewhat negated by euro-yen demand
*The dollar encountered fresh selling pressure into Europe, rate moved through
the Asia low to Y111.34 before fading
*Firmer UST yields supported off the low, recovery efforts extended to Y111.52
but with lack of follow through drifted to hold in narrow range trade
*The cross slipped in tandem with the dollar, touched Y133.67 before profit take
demand cushioned falls
*Rate squeezed to Y133.95 but failed to build gains with an equally quick
reversal to the Y133.70/75 area.

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