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News of talks between US Trump and.......>

MNI (London)
DOLLAR-YEN: News of talks between US Trump and N.Korea Kim led to a boost in
risk outlook which in turn weighed on Jpy. Reaction took Usd/Jpy up to Y106.94,
from its Asian opening low of Y106.17, but move said to have meet decent supply
placed ahead of Y107.00. The level said to hold the strike of a large option
expiry for today's NY cut, $4.14bn. Rate eased off to Y106.57 before it settled
around Y106.70 in early Europe. Support noted into Y106.50(this level also holds
an expiring option, $1.22bn). Below here and next support seen between
Y106.17/02. Traders also aware of a much larger option expiry sitting well below
the market (and below the 2018 low of Y105.25) at Y104.00 for $5.18bn. US
Employment Report in focus, NFP median 205k, though AHE seen as the main focus,
median 0.2%mm, 2.8%yy. 
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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