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The recovery off post FOMC lows of.......>

DOLLAR-YEN
DOLLAR-YEN: The recovery off post FOMC lows of Y112.46 continued into Asia,
Japanese real money demand in Eur/Jpy supported to Y112.79 before fading. The
rate was quick to pare gains and drifted throughout the session to consolidate
Y112.53/58. A break of yesterday's low opens Y112.30/22 (50% Y110.84-113.75,
Dec7 low). Usd/Jpy firmed into Europe with UST yields to Y112.69.
* Busy on the US calendar today with the main release from Retail Sales and
Weekly Jobless Claims at 1330GMT. Retail sales are forecast to rise by 0.3% in
November after a modest 0.2% increase in October. The level of initial jobless
claims is expected to rise by 3,000 to 239,000 in the December 9 week after a
decrease of 2,000 in the previous week.
* The Markit flash US Services Index and Manufacturing Index data will be
released at 1445GMT, followed by the latest business inventories data. Business
inventories are expected to fall 0.1% in October.
* Option expiries: Y112.00(($754mn), Y112.45-50($1.02bn), Y112.70($530mn),
Y113.00($525mn), Y113.50($464mn), Y114.00($522mn), Y114.50($1.26bn).

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