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Losses continue to mount, with JPY.......>

DOLLAR-YEN: Losses continue to mount, with JPY comfortably the top performer in
G10 so far. Rate remains weighed by equities, with European markets sagging from
the open. Particular weakness is noted in core European markets, with France's
CAC40, Switzerland's SMI and Sweden's OMX dropping 0.6-0.8% apiece.
Having broken below the 50- and 55-dmas, support may be gounds on an approach
into the rising trend support from Mar26, kicking in at Y111.65 ahead of fib
support and the 100-dma at Y111.36/31. $1.12bln of option interest sits between
Y111.40-55 due to roll-off at today's NY cut. 
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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