Rate inching to new lows down at.........>

DOLLAR-YEN: Rate inching to new lows down at Y107.51, with the pair failing to

gain any support from the early upside in US equity futures as the broad-based

USD weakness leads the greenback to underperform all others across Tuesday

morning.

- Technical support kicks in at Y107.30, the May 19 low ahead of Y106.74 and

Y106.40 Low May 11.

- A very crowded option expiry schedule at today's NY cut and throughout this

week could keep spot contained over the coming few days:

- May27 Y107.80-90($1.7bln), Y108.15-20($1.1bln), Y109.80-00($1.5bln)

- May28 Y106.45-55($1.3bln), Y107.90($1.6bln)

- Jun01 Y108.05-10($1.2bln)

- Jun03 Y107.40-50($1.3bln)

- Jun08 Y106.25($1.0bln)