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Free AccessFailure to push above Y109.70, with......>
DOLLAR-YEN: Failure to push above Y109.70, with reports of decent option linked
resistance from Y109.80 through to Y110.00, saw rate reverse, the move lower
picking up momentum in NY as it traded down to Y109.18. Reported support around
the Y109.20 area (suggested to be domestic interest) proved strong enough to
contain, allowing rate to recover to Y109.37 into the close. Early Asia extended
this recovery to Y109.40 before Tokyo sold back. Talk in Asia that sell interest
seen placed ahead of Y109.50, the level holding a total of $2.75bln of option
expiries for today's NY cut, $2.39bln of USD calls. Rate eased to Y109.26 but
ran into fresh demand into the dip in Europe which have taken it back to
challenge the earlier high of Y109.40.
- Support Y109.20-00. Resistance Y109.50, Y109.70/80, Y110.00.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.