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Having briefly dipped under Y111.00 on...>

DOLLAR-YEN: Having briefly dipped under Y111.00 on Tuesday, USD/JPY improved to
a high of Y111.34, last Y111.25, after following the broader USD gyrations in NY
- Support is noted at Monday's low (Y110.74) with resistance at Monday's high
- Focus remains squarely on next week's BOJ decision. Today has seen the Nikkei
run a story noting that "the Bank of Japan is unlikely to make changes to its
ultra-loose monetary policy at least until October, five key BOJ watchers
believe, despite talk that growing concern over the side effects of prolonged
easing could prompt action next week." Some even believe that more easing is on
the table to stoke price growth.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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