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Sharp pullback from Friday highs of......>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Sharp pullback from Friday highs of Y109.84 saw a low in NY of
Y109.12. Rate managed to recover to Y109.40 in early Asia on reported Eur/Jpy
and Aud/Jpy demand but move ran into Japanese real money sell interest at the
Tokyo open which countered. Rate was pressed back, meeting initial support
around Y109.10 before it dipped to a low of Y109.03. Recovery efforts so far
have been capped just below Y109.20. Talk in Asia of demand placed into Y109.00
with suggestion of stealth bids scattered from Y108.85 through to Y108.50. 
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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