Since the early morning plunge lower.....>

DOLLAR-YEN: Since the early morning plunge lower from the mid-Y109.20's to

Y108.34 following N. Korea's latest ballistic missile launch, the pair has

consolidated within a Y108.56 to Y108.95 range. Sentiment is obviously risk-off,

Japanese equities remain soggy, Nikkei currently down 0.8%, Kospi down 1.55%, US

stock futures have hardly seen a bounce, S&P e-mini down 0.68%, while UST yields

remain in negative territory, 10-year treasury yields down by 1.37%. Further

consolidation would seen likely with the UN Security Council said to convene

later today to discuss developments on the Korean peninsula. Resistance lies at

Y109.03-05 (former hourly support now res), further techs are seen at Y109.09

(50% Y109.84-Y108.34), while Asia's low of Y108.34 provides initial support.

Dollar-yen was last at Y108.78