Dollar-yen squeezed through Y113.00......>

DOLLAR-YEN: Dollar-yen squeezed through Y113.00 overnight following news that

the US Senate had passed a 2018 budget blueprint, setting the stage for a

Republican tax reform. Gains extended to Y113.31, before light profit take sales

emerged off the high. Consolidation has remained the theme into Europe with the

pair holding a narrow 10 pip range. On the topside traders have reported of

corporate offers at Y113.30, more behind through Y113.50/60 with stops set on a

break (Y113.44/50 - Oct6 high, 1.618% swing Y112.72-111.48). On the data front

today US NAR Existing Home Sales are due up at 1400GMT. The pace of existing

home sales is expected to decelerate further to a 5.30 million annual rate in

September after falling in each of the last three months. Sales were likely set

back by the hurricanes, but could rebound early in 2018 due to the back-up of

sales that could not be processed in the impacted areas. Dollar-yen last

Y113.16.