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It has been a slow start to the new......>

DOLLAR-YEN
DOLLAR-YEN: It has been a slow start to the new trading day, the weaker dollar
story somewhat negated by Euro-yen demand keeping the pair in a Y109.17 to
Y109.40 range. Nikkei opened higher by 0.26%, but gains since eroding, the cash
index now trading around flat. On the plus side, UST's have opened a little
higher, 10-year yields now trading +0.40%. Further range trading is expected
with little bias. Support is seen at Y109.12/07 (Aug26 low, hourly low Aug24),
while initial resistance lies at Y109.48 (50% Friday's Y109.84-Y109.12 decline).
Dollar-yen was last at Y109.27  

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