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Jpy picks up a stronger bid tone into....>

MNI (London)
DOLLAR-YEN: Jpy picks up a stronger bid tone into early Europe as Usd/Jpy gets
squeezed down to Y108.06. Support seen at the Feb9 low of Y108.05, with the
figure suggested to hold option barrier interest. Asian traders in recent
sessions have noted decent real money demand emerging into dips (earlier
favoured level was Y108.50) and market may be wary on approach to the figure.
However, stops likely to reside below and may be the early downside target. Rate
currently trades around Y108.08.
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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