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),

Y106.75-80($415mn),

Y107.50($308mn).