Goto-Bi day demand interest in early.....>

DOLLAR-YEN: Goto-Bi day demand interest in early Asia managed to lift USD/JPY up

to Y108.95 but move ran into stiff resistance at and above Y108.90. This early

move was knocked lower as large GBP/JPY sell interest emerged, sales seen

through the legs (USD/JPY-Cable) which pressed USD/JPY down to Y108.56 ahead of

the European open. The slide was slightly helped by the latest BoJ monetary

policy decision, which disappointed dovish calls for a tweak to the forward

guidance. Policy settings also remained

unchanged, while CPI & GDP forecasts were trimmed at the margin, in what turned

out to be a rather uneventful announcement. Rate retains a heavy feel in early

Europe, resting on its overnight lows. Next support seen at Monday's low of

Y108.42, with stronger support reported into Y108.30.