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Usd/Jpy: Asia open Y109.22, range.......>

YEN SUMMARY
MNI (London)
YEN SUMMARY: Usd/Jpy: Asia open Y109.22, range Y108.89-109.27. Europe open
Y109.06, range Y108.90-109.11.
* Having met decent support in the Y108.50/45 area Wednesday rate eventually
pushed up to Y109.40 in NY.
* Move survived a pullback to Y108.71(from Y109.17) on reaction to Fed Fischer
resignation).
* Rate drifted back to Y109.18 into the close with Asia extending this move to
Y109.12 in early trade.
* Move lower was given an added shove down to Y108.89 on report N.Korea
preparing missile launch Sep9. 
* Market saw this as old news and rate corrected to Y109.22 before it resumed
drift lower through balance of session to Y108.90. 
* Usd was seen generally softer through the European session, seen on position
adjustments ahead of ECB.
* Usd/Jpy support remains at Y108.70 ahead of stronger area between Y108.50/45,
Y108.20. 
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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