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Goto-bi day interest provided a minor....>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Goto-bi day interest provided a minor counter to the recent
recovery, the rate having moved higher as tensions between the US and Iran
calmed. Rate touched an early low of Y109.46 before recovery resumed, albeit at
a slow pace, allowing it to touch a fresh YTD high of Y109.60, off its YTD low
of Y107.65(Jan08). Asian traders have reported resistance at and above Y109.60,
strengthening into Y109.80 with continued talk of option interest at this level.
A move above could accelerate recovery but expected to meet further option
linked resistance into Y110.00.  
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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