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Rate continues to benefit from the.......>

DOLLAR-YEN
DOLLAR-YEN: Rate continues to benefit from the stronger greenback despite the
JPY being somewhat mixed against the broader set of G10 currencies. Having
broken above yesterday's highs it's increasingly clear that the equities-USD/JPY
correlation has firmly broken down as the S&P500 remains lower by 0.5%. Any
further gains may run into resistance on an approach into the Y109.65/69 levels,
marking the 50% Fib level for the Y114.73-104.56 move and the 2.0% envelope
10-dma level respectively. 
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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