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Extends recovery off lows of Y106.36.....>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Extends recovery off lows of Y106.36 to Y106.73. Rate had been sold
down on risk hedging ahead of a press conference by FinMin Aso concerning the
Moritomo scandal. However, any prospect this scandal would prompt Fin Min Aso to
resign were quickly quelled and rate bounced. As mentioned earlier, CTA fnds
were stand out buyers, the rate initially stalled at Y106.60 before it stretched
on to Y106.73. Resistance seen at the early Asian high of Y106.97 with talk of
sell interest placed from Friday's high of Y107.05 through to Y107.15. Expect
some demand to have crept back in into Y106.50 ahead of the mentioned low of
Y106.36. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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