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Usd/Jpy: Dec1 close Y112.10, Dec4.......>

YEN SUMMARY
YEN SUMMARY: Usd/Jpy: Dec1 close Y112.10, Dec4 Asia range Y112.44-98, Europe
Y112.79-113.07
*Eur-Jpy: Dec1 close Y133.41, Dec4 Asia range Y133.46-134.02, Europe
Y133.72-134.05
*News over the weekend that the US Senate had passed the tax bill saw Usd/Jpy
gap higher from Friday's close into Asia, rate lifted from Y112.44 to Y112.98
*Failure to break through the Y113-handle then saw the dollar retreat to
Y112.66, the move was encouraged by weaker UST yields and a softer Nikkei
*Dip buyers cushioned falls, rate extended the slow grind into Europe to hold
Y112.85/90
*As pullbacks remained shallow another wave of dollar demand took the rate above
Y113.00 on extended react to the weekend US tax bill news
*Usd/Jpy squeezed to fresh daily highs of Y113.07, but soon faded. Soft UST
yields further pressured to the Y112.75/80 area
*Eur/Yen consolidated in a narrow Y133.72-134.05 morning range. The break of
Y134.00 encountered fresh sellers off the high to settle around Y133.78/83.

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