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

MNI (London)
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. 
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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