The dollar opened in Asia at Y109.57.....>

DOLLAR-YEN: The dollar opened in Asia at Y109.57 at the upper side of

yesterday's Y108.89 to Y109.65 range, where broad-based dollar strength was the

main theme. Nikkei Japan Manufacturing PMI (0030GMT) for August provides a

modest event risk for the session, prior reading was 52.1. However, regional

equities will likely be sourced for direction during the day, Nikkei futures

closed in New York +0.73%. In option space, Y109.50($920mn) and Y110.00

($635mn), are the closest expiries for today, there is also an expiry at Y110.00

($1.8bn) for Friday. Supply is said to be in place above Y109.80, which fits in

nicely with the technical landscape, Y109.78 marks the 50% fib retracement on

the Y110.95-Y108.60 decline, while hourly support is located at Y109.13. Early

demand from Tokyo has seen the dollar lift higher from Y109.55 to Y109.76 and

currently stands at Y109.72