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Risk aversion, prompted by the Sino-US...>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Risk aversion, prompted by the Sino-US trade spat, allowed rate to
break key support at Y109.71(Mar23 low) with follow through sales taking the
rate to an eventual low of Y109.47. Profit taking then cited as risk currencies
(USD and JPY) pared back some of their recent gains, saw USD/JPY push back up to
Y109.90, with rate currently holding back above Y109.71 as we approach the
close. Asian traders had noted earlier decent Japanese bank demand interest into
dips to Y109.80, with chance this interest may re emerge into Friday's trade,
though possibly at a lower level. Support seen at Y109.70 ahead of Y109.50/45.
Resistance Y109.90-110.00.
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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