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Since touching a low of Y109.02 at the...>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Since touching a low of Y109.02 at the beginning of the week (May13)
Asian traders have reported Japanese investor demand, linked to fresh financial
year off shore investment, emerging to cushion the rate ahead of Y109.00 (also
likely to know BOJ upset at the strength of the JPY). With this interest
protecting the base the rate has now pushed higher, aided by the release of
stronger than forecast US Phila Fed and Weekly Jobless Claims which provided a
general boost for the USD, the move squeezing out weaker shorts as it edged
above Y109.80 though finding fresh resistance ahead of Y110.00. Rate touched a
high of Y109.97, currently finding support at that Y109.80 level. Friday option
expiries has a Y110.00 strike rolling off for $1.1bln. 
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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