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Moves through the Asia high with gains...>

DOLLAR-YEN
DOLLAR-YEN: Moves through the Asia high with gains extending to Y112.76. The
next area of resistance is seen at Y112.80/81 (50% Y114.73-110.84, 50-dma). Next
up at 1500GMT sees the release of US ISM mfg data. Analysts at Danske estimate a
fall to 58.0 from 58.7 in line with some of the regional PMI's and the fall in
the US Market PMI mfg Index. Danske add they are still puzzled about the big gap
between the Markit and ISM indices, as they are expected to show the same thing
(more or less). The Senate vote on tax reform follows from 1600GMT, although
Republicans are confident they have the votes required, the result is likely to
be a close affair. As Europe goes home for the weekend headlines are expected to
drive amid thin markets. Usd/Jpy last Y112.66. 

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