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The dollar opened in Asia at Y109.63.....>

DOLLAR-YEN
DOLLAR-YEN: The dollar opened in Asia at Y109.63 towards the upper side of
yesterday's Y109.00 to Y109.80 range, where broad based dollar strength and
firmer equities undermined the yen. Initial focus will be on the opening of
Japanese equities, Nikkei futures closed in New York up by 0.36%. Japanese
Industrial Production for June (0430GMT) provides the modest event risk for the
session, last 1.6% m/m and 4.9% y/y. Initial resistance lies at Y109.92 (Daily
bear channel top), while hourly support is found in the low Y109.40's.
Dollar-yen is currently changing hands at Y109.72. 

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