###POV. Going no where fast in Asia......>

DOLLAR-YEN: ###POV. Going no where fast in Asia and that maybe the case until

Friday's release of US CPI and Retail Sales data. The dollar has managed to trot

out a narrow Y112.32 to Y112.52 range this morning, but lacks any conviction.

Nikkei is a bit firmer, but off the high seen earlier, while UST yields are a

little lower, 10-year benchmark treasury yield down 0.23%. The pair is being

held hostage to some sizeable option expiries, between Y112 and Y113 there are

in excess of $4.6 billion worth of expiries for today and tomorrow the expiries

are just north of $3.86 billion. Maybe the US data will see the dollar trade

outside of the Y112-Y113 parameters, but for now the option market rules the

roost.