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Touched a high of Y107.90 in early.......>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Touched a high of Y107.90 in early Asia Thursday before eventually
stepping its way down to a pre 1600BST fix low of Y107.57 before edging back to
Y107.70 post fix. Asian traders earlier noted resistance into Y107.90, suggested
linked to a $1.8bln option expiry at this level at today's NY cut. Stronger
resistance has also been noted in recent sessions sitting between Y108.00/10,
the area having capped recovery efforts 4 times since mid April. A break of
Y108.20 suggested to prompt a short squeeze. Support seen again into Y107.50
ahead of Y107.37(May27 low).  
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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