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Saw an extended recovery high of.........>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Saw an extended recovery high of Y109.40 Wednesday, off earlier
strong support area between Y108.50/45, as markets reacted to Trump comment that
a deal had been reached to on a short term debt ceiling increase until Dec15.
Move up sene in tandem with UST yields. Rate had eased off to Y109.18 into the
close with early Asia slowly extending move until rate dropped to Y108.89 on
S.Korean news report that N.Korea preparing missile launch Sep9. This had been
widely expected and prompted a quick recovery to Y109.22 before the earlier
drift lower resumed. Rate has found support ahead of Y109.00, market now seen
wary of any stealth demand interest after rate was supported by strong bids in
that Y108.50/45 area. 
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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