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Squeezed to a low of Y105.35 (Asia low...>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Squeezed to a low of Y105.35 (Asia low Y105.42) in early Europe as
rate was seen pressured by Eur/Jpy sales, triggered by the Italian election
results, as well as mild risk off trade seen on the back of Trump's trade tariff
proposals for steel and aluminium imports into the US (regarded by some as
opening salvo in a trade war). Rate held shy of Friday's low of Y105.25, though
recovery efforts so far have held shallow. Traders are aware that the Y105.50
level holds the strike of a large expiring option for today's NY cut, $2.66bn,
which could act to keep rate anchored close by. 
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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