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Made a show above Y111.00 in late NY.....>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Made a show above Y111.00 in late NY trade Wednesday, touched
Y111.05 but struggled to build further. Early Asia pressed rate back to Y110.87
but risk appetite was given an added boost as markets reacted to a BBG report
suggesting that the U.S. is weighing a 60-day extension to the Chinese tariff
deadline. This news, along with Tokyo fix demand, saw rate lift on to Y111.13
before momentum faded. Corrective pullback held above Y111.00. Early Europe
picked up the risk positive baton and has edged rate back up to Y111.12 but
momentum has again faded. If rate can build seen opening a push on toward
Y111.30(200-dma) ahead of stronger technical resistance between Y111.40/50.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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