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Rate returns to the lower levels of......>

DOLLAR-YEN
DOLLAR-YEN: Rate returns to the lower levels of the European morning, but holds
much of the gains seen overnight in Asia. Once again, the Y112.00 handle proved
too much to bear for USD/JPY, with price action today topping out at Y111.99.
Rate hasn't drifted too far yet though, with $2.9bln in option expiries due to
roll-off at today's cut layered between the Y111.90-112.00 levels. The RSI for
USD/JPY, however, remains very close to overbought territory (RSI 67.1 Tuesday),
signalling that momentum may be lacking for a break and hold above the Y112 mark
this week. 

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