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Sharp fall on Wall Street Wednesday......>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Sharp fall on Wall Street Wednesday acted to weigh on Asian equity
markets. This along with comments from US Trump concerning recent Fed rate hikes
acted to weigh on the USD allowing USD/JPY to extend its recent pullback, off
Wednesday's high of Y113.29 to a low of Y111.97. However, Asian traders noted
support met around the Y112.00 level, as well as demand seen in EUR/JPY into
Y129.20, which acted to lift USD/JPY back to Y112.28 ahead of the European open.
Traders suggest demand remains in place around Y112.00, adding that stronger
interest noted into Y111.80 adding that a break here may accelerate slippage.
Resistance seen up at Y112.80/85. Markets remain nervous following the equity
market move. Data focus today on US CPI. 
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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