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YEN SUMMARY: *Nov1 Dollar-yen open Y113.64, range Y113.61 to Y113.94
*Dollar-yen opened in Asia toward the upper side of yesterday's Y112.96 to
Y113.73 range, where firmer European and US equities, stronger UST yields,
helped to keep the Yen on the defensive.
*Tokyo-fix related demand, reports that 'excellent progress' is being made on
the US tax bill, encouraging firmer UST yields and news that Japan PM Abe is to
order an extra budget, all combined to push the dollar higher from near Y113.65
*Post-fix saw consolidation take hold, the pair traded aimlessly between Y113.80
*Hourly resistance is located at Y114.00, which also holds a large expiry for
today for $910mn. A clean break higher would expose Friday's US GDP react high
of Y114.45, while support is seen at Y113.61 (Asia's low)
*US ADP Employment change and ISM Manufacturing data provides the event risks
for the session ahead, which also includes FOMC.