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Having traded a narrow Asia range, fresh...>

EURO-YEN
EURO-YEN: Having traded a narrow Asia range, fresh euro based supply started to
pressure into Europe. Slippage through Y132.25 triggered renewed supply from
momentum-type accounts to Y132.09 before fading. Expect light demand ahead of
Y132.00, techs behind at Y131.95 (Nov10 low). Very light on the calendar today
with main focus at 0900GMT where ECB Vice-President Vitor Constancio will give a
keynote speech at the Opening Conference of the 20th Euro Finance Week, in
Frankfurt. Recovery efforts so far hold shallow, last Y132.17.

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