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JPY was reluctant to add to its late.....>

DOLLAR-YEN
DOLLAR-YEN: JPY was reluctant to add to its late NY gains against the greenback,
with USD/JPY last operating a touch higher than its Asia-Pacific opening levels
at Y111.05.
- The pair's hesitation to extend may be the result of markets realising that
the latest round of U.S. protectionist trade measures against China had been
previously outlined, but the speed of the implementation of the additional
measures has left safe haven assets somewhat bid.
- Support lies at the July 06 high (Y110.78), which provided a floor for the
pair on approach overnight, with resistance at the mid-May highs (Y111.40).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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