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Finds support at Y111.00 after rate......>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Finds support at Y111.00 after rate was knocked from around Y111.50
on release of dovish FOMC. Rate retains a heavy feel, currently around Y111.05.
Tokyo holiday Thursday could lead to some volatile Asian reaction tomorrow.
Traders have also suggested that FY repatriation flows could add to any downside
pressure in USD/JPY (and other JPY pairs). At writing rate breaks to Y110.95 but
move fails to trigger any further sales (so far). Next supports seen at recent
lows of Y110.88/79(Mar11/Mar8). 
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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