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Usd/Jpy: Asia open Y110.24, range.......>

YEN SUMMARY
MNI (London)
YEN SUMMARY: Usd/Jpy: Asia open Y110.24, range Y109.56-110.43. Europe open
Y110.35, range Y110.37-111.00.
* News that N.Korea had launched an ICBM over Japan prompted a move into
safe-haven assets.
* Usd/Jpy dropped from Y110.29 to Y109.56 but recovery was fairly swift (market
getting used to these events)
* Usd/Jpy stepped its way up to Y110.45 into the European open, the move up
aided by reported fix demand. 
* Similar moves seen in Jpy crosses, Eur/Jpy recovered off Y130.62 to Y131.50,
Gbp/Jpy from Y146.64 to Y148.00. 
* Usd/Jpy continued to drive higher in Europe, traded to Y111.00, Thu's US CPI
inspired high of Y111.04 moving into view. 
* Eur/Jpy extended gains to Y132.65, while Gbp/Jpy edged on to Y150.83 on mix of
Gbp strength/Jpy weakness. 
* US Retail Sales and Empire Manufacturing data provides next focus into early
US. 
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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