The JPY continues to pare European.......>

DOLLAR-YEN: The JPY continues to pare European morning gains in early NY, the

recovery off earlier traded lows (Y108.92), extended back through Y109.00 to

hold around the Y109.30/35 area. Intraday resistance is seen at Y109.41/53

(61.8%/76.4% of daily range), opening offers on approach to Y109.80 (Y109.72 -

Asia high).

-Very quiet on the US calendar today with main focus on Fed speakers. At 1330GMT

New York Federal Reserve Bank President William Dudley is due to give a speech.

Chicago Federal Reserve Bank President Charles Evans is to speak about current

economic conditions and monetary policy at 1615GMT. Lastly, at 2230GMT San

Francisco Federal Reserve Bank President John Williams will deliver remarks at

the "Community Leaders Luncheon" in Honolulu, Hawaii.

-Option-expiries: Y109.25($310mn), Y109.40($433mn), Y109.50($385mn),

Y109.55-60$540mn), Y111.05($300mn).