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Usd/Jpy: Asia open Y109.72, range.......>

YEN SUMMARY
MNI (London)
YEN SUMMARY: Usd/Jpy: Asia open Y109.72, range Y109.21-83. Europe open Y109.35,
range Y109.25-55. 
* N.Korea headlines boosted risk aversion Jpy demand Monday but as news
quietened it allowed Jpy to pare gains. 
* Usd/Jpy recovered off early Monday low of Y109.23(weekend NK nuclear test) to
Y109.93 but missile movement eased it to Y109.39. 
* Rate then recovered through the rest of the session, held above Y109.70 into
close.
* Pre Tokyo demand lifted recovery to Y109.83(Goto-bi Day positioning) but Tokyo
countered move as UST yields opened softer. 
* Rate eased to the Y109.50 area before it was shoved down to Y109.21 on further
reports of NK missile movement(launch Sep9?)
* Rate recovered to Y109.45 in early Europe, dipped to Y109.25 before it pushed
on to Y109.55. 
* Rate seen buoyant but market wary of N.Korea developments. 
* Market awaits return of the US market to bring UST yields into the picture.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MarketsForeign Exchange Bullets
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MarketsForeign Exchange Bullets

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