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Recovery off its overnight Asian low of....>

EURO-YEN
MNI (London)
EURO-YEN: Recovery off its overnight Asian low of Y129.61 extends to Y129.98 in
early Europe, the rate meeting resistance into Y130.00/05. A break here to
expose next resistance at the earlier Asian high of Y130.37 ahead of Y130.45/60.
Risk aversion in Asia had pressed rate to the mentioned lows, a mix of
positioning ahead of US FOMC this week along with published opinion polls in the
weekend Japanese press suggesting PM Abe's standing has fallen due to the
ongoing Moritomo scandal. Support remains into Y129.60 ahead of Y129.35/30. 
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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