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Minor pullback off the DXY high..........>

DOLLAR-YEN: Minor pullback off the DXY high (90.18) has seen USd/Jpy ease to
Y106.60 and settle in the middle of its narrow European morning range. The
21-dma provides initial resistance at Y106.77, expect supply behind on approach
to Y107.00 (Y106.97 - Asia high). Support at Y106.36/17 (Asia/Mar9 lows). Quiet
on the calendar today as focus turns to the double release from the US of the
employment trends index and BLS State Employment is at 1400GMT. This comes off
the back off surprise strength in nonfarm payrolls up to 313,000 which was a
much larger gain than expected and following a sharp net upward revision to
December and January payrolls. Shortly after at 1500GMT, sees the NY Fed survey
of consumer expectations and the US concludes with the Treasury Budget at
1800GMT. Last Y106.61.
- Option-expiries: Y105.20($350mn), Y105.55($320mn), Y106.20($310mn),

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