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Usd/Jpy: Dec11 close Y113.52, Dec12.....>

YEN SUMMARY
YEN SUMMARY: Usd/Jpy: Dec11 close Y113.52, Dec12 Asia range Y113.44-58, Europe
Y113.37-50
*Eur-Jpy: Dec11 close Y133.57, Dec12 Asia range Y133.47-75, Europe Y133.53-76
*Usd/Jpy opened in Asia toward the upper side of yesterday's Y113.24-69 range,
where consolidation was largely the theme in European and US markets
*Range-trading continued in a listless Asia session, investors were largely on
hold ahead of impending central bank decisions later in the week
*Eur/Jpy encountered early pressure to Y133.47, dip buyers emerged off the low
to hold Y133.55-62 for the balance of the session
*The quiet theme spilled over into Europe, Usd/Jpy lacked direction largely held
to a 20 pip range
*Demand via the crosses briefly challenged the Y113.50 area but soon faded to
hold either side of Y113.45
*The cross did get an added lift with Eur/Usd to Y133.76, but again lacked
momentum amid quiet markets. Yen pairs last Y113.46/Y133.60.

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