*Nov23 dollar-yen open Y111.22, range...>

YEN SUMMARY: *Nov23 dollar-yen open Y111.22, range Y111.20 to Y111.50

*Dollar-yen opened in Asia toward the middle of the Y111.07 to Y111.38 range

witnessed yesterday, where broad-based dollar weakness has been the theme

post-FOMC minutes.

*Fix-related and euro-yen demand pushed the pair up from Y111.20 to Y111.44

*Dips were relatively shallow and limited to Y111.27, ongoing demand in euro-yen

then pushed the dollar to a fresh high at Y111.50

*Heading toward the European open the pair remained elevated at Y111.45

*Euro-yen was the main mover during the session, rising from Y131.76, stops were

eventually triggered above Y132.00 pushing the rate to Y132.20. Investors,

certainly late in the piece, seemed to be reaction to reports that the Green

party had called for Chancellor Merkel to forge coalition with SPD. Another

layer of stops has been reported in the Y132.30's