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Recovery extended on to Y110.76 in the...>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Recovery extended on to Y110.76 in the Asia/Europe transition before
risk-on momentum faded. Eventual break above the 200-dma at Y110.25
Wednesday(closed above) gave the rate a boost, which along with dovish comments
from BOJ policy board member Funo, managed to overcome reported Tokyo fix
supply. Chinese equity indices in the black, and Nikkei up, prompted demand for
AUD/JPY which added to the upside drive in USD/JPY. Resistance suggested from
around Y110.80 through to Y111.00.
- Option expiries of note, Y110.00($734mn), Y110.30($700mn), Y110.50($521mn),
Y110.65($603mn), Y110.75($1.09bn).
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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