Refuses to back away and holds near......>

DOLLAR-YEN: Refuses to back away and holds near the peak of its Y113.61-114.23

daily range following the release of strong US ADP data. Next up on the calendar

we have Markit mfg PMI at 1345GMT, followed by ISM mfg/Construction Spending at

1400GMT. The ISM manufacturing index is expected to fall to a reading of 59.5 in

October after rising to a recent peak of 60.8 in September despite the

hurricanes that month. Regional conditions have suggested stronger growth

Construction spending is expected to hold steady in September, though the

hurricanes present a short-term downside risk. Housing starts fell 4.7% in the

month, suggesting private residential building could be weak.