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Failure to show any signs of a...........>

DOLLAR-YEN
DOLLAR-YEN: Failure to show any signs of a recovery keeps pressure toward the
downside with bears targeting a break of Y108.50 for the next leg lower. US
Jobless Claims are released at the bottom of the hour. The level of initial
jobless claims is expected to rebound to 218,000 in the January 26 holiday week
after a decline of 13,000 to a 199,000 level in the previous week, the lowest
level in almost 50 years. The MNI Chicago PMI is next up at 1445GMT and is
expected to fall to 60.8 in January after a small increase to a revised
63.8 reading in December. New Home Sales follow at 1500GMT. Also, a gentle
reminder that all bank models are suggesting strong USD sales for month-end
today. 

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