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Having briefly traded under Y110.00......>

DOLLAR-YEN
DOLLAR-YEN: Having briefly traded under Y110.00 yesterday, dollar-yen extended
the recovery in early Asia. Firmer UST yields initially lifted to the Y110.50/55
area, eur-yen demand from model types then boosted to Y110.92 before fading.
Rate holds firm into Europe with light offers reported on approach to Y111.00, a
break here opens techs at Y111.16 (Daily trend-line resistance off Y114.49
high). Dollar-yen last Y110.77.

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