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Risk aversion continued through the......>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Risk aversion continued through the Asian morning, allowed USD/JPY
to break below Y110.00, as well as breaking a channel base at Y109.98 which
allowed rate to extend its corrective pullback to Y109.56. Rate currently trades
around Y109.68. Next support seen into Y109.50 ahead of Y109.30(76.4%
Y108.65-111.40). resistance now seen back toward Y110.00, the level also holding
the strike of a decent sized option expiry for today's NY cut, $2.01bn. 
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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