Persistent USD supply at the NY..........>

DOLLAR-YEN: Persistent USD supply at the NY crossover has seen Usd/Jpy touch

fresh multi-month lows of Y105.25. Recovery efforts heave remained shallow

throughout Asia/Europe after Governor Kuroda stated the BoJ will begin to

consider an exit from easy policy around 2019. Expect demand ahead of Y105.00,

opening a move toward Y104.71 (2% envelope 10-dma). Traders have also noted

semi-official demand could surface particularly at these lower levels. Usd/Jpy

last Y105.35.

- The US calendar gets underway at 1445GMT, with the publication of the February

ISM-NY Manufacturing Index. At 1500GMT, the final Michigan Sentiment Index will

be released.

- Option-expiries: Y104.50($530mn), Y105.00($758mn), Y106.75($495mn),

Y107.00($519mn).