News over the weekend that the US........>

DOLLAR-YEN: News over the weekend that the US Senate had passed the tax bill saw

Usd/Jpy gap higher from Friday's close into Asia, Usd/Jpy lifted from Y112.44 to

Y112.98 but soon faded. Soft UST yields/equities touched pullback lows of

Y112.66, before dip buyers cushioned falls. Rate extended the slow grind into

Europe and holds Y112.85/90 at typing. A break of Y113.00 opens tech resistance

at Y113.13/14 (Daily cloud top, Nov17 high).

* Very quiet on the US calendar today with the first release of the day at

1445GMT from ISM-NY mfg.

* Next up at 1500GMT sees the release of Factory Orders/Durable Goods. Factory

orders are expected to fall by 0.3% in October. Durable goods orders fell 1.2%

in the month on a drop in aircraft orders, while nondurables orders are expected

to rise only modestly as energy prices were flat. Factory orders are expected to

post a modest increase excluding the transportation component. Durable orders

excluding transportation rose 0.4% in the advance estimate.

* Option expiries at Y111.90-00($999mn), Y112.50-55($914mn), Y113.25($710mn),

Y114.00-10($893mn).