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Following on from yesterday's reports....>

DOLLAR-YEN
DOLLAR-YEN: Following on from yesterday's reports that Trump's tax reforms may
be phased in over a 5 year period and the indictment of three of his former
team, the dollar continues defensive into Europe and moves through the Asia low
to Y112.96. The pair found support from the Ichimoku cloud base, a break here
opens Y112.91/80 (21-dma, Market stops). Month-end flow expected to drive today
with some bank models suggesting light dollar sales against a basket of
currencies. Other highlights this week is the FOMC tomorrow, followed on
Thursday by unsubstantiated reports that the new Fed Chair will be announced,
Powell is said to be the favourite. Recovery efforts seen shallow, dollar-yen
last Y113.00.  

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