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Reported US imposing $50bn of trade......>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Reported US imposing $50bn of trade tariffs on China, with Chinese
officials calling for a swift response, expected to escalate this current trade
spat and has dented recent risk appetite. USD/JPY has pushed above its FOMC
react high of Y110.85 to Y110.90, clearing reported exporter interest in the
Y110.80 area, but expected to meet option linked interest on approach to
Y111.00. Traders note decent sized option expiry at Y111.00-05 for today's NY
cut, $1.77bn, adding that Y110.50 holds $1.18bn of expiry interest. Rate seen
needing a clear of Y111.10 to boost upside momentum. 
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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