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Usd/Jpy: Asia open Y110.49, range.......>

YEN SUMMARY
MNI (London)
YEN SUMMARY: Usd/Jpy: Asia open Y110.49, range Y110.41-73. Europe open Y110.46,
range Y110.36-57.
* US Tax reform chatter Wednesday helped to boost the Usd via UST yields,
extended Usd/Jpy's recent recovery to Y110.69. 
* Rate managed to pull back to Y110.38 then settled around Y110.50 into the
close. 
* Consolidation around Y110.50 continued early Asia, dipped to Y110.41 before
stronger buys emerged.
* Demand into the Tokyo fix lifted rate to Y110.73, move aided by demand for
Aud/Jpy linked to Australian Jobs Report. 
* Reports of offers scattered toward Y111.00 capped rally, the rate then
returned to hold around Y110.50 into Europe.
* Move lower seen in part to reaction to N.Korean threats to 'use nuclear bomb
to sink Japan'.
* Rate continued to drift lower into Europe, rate touched Y110.36 but reported
demand sub Y110.40 cushioned. 
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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