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Usd/Jpy: Dec14 close Y112.31, Dec15.....>

YEN SUMMARY
YEN SUMMARY: Usd/Jpy: Dec14 close Y112.31, Dec15 Asia range Y112.11-40, Europe
Y112.03-28
*Eur-Jpy: Dec14 close Y132.28, Dec15 Asia range Y132.16-47, Europe Y132.06-36
*Usd/Jpy opened heavy in Asia after it was reported three Republican Senators
are wavering on support for the US Tax Bill, should the vote go ahead next week
*Tokyo-fix related demand then pushed the dollar back to Y112.37
*Eur/Jpy sales with added weight from equities pressed to Y112.11 followed by a
quick spike to Y112.38 on reports that a BOJ dissenter had called for more
easing measures
*The pair was unable to consolidate gains and drifted throughout the session 
*As soft UST yields pressured into Europe, Usd/Jpy slipped from Y112.28 to
Y112.03 before demand ahead of Y112.00 cushioned falls. The level also
corresponds to a large option expiry ($1.14bn) for today's NY cut
*Eur/Jpy largely tracked the dollar, a sharp reversal to Y132.06 encountered
willing dip buyers to consolidate Y132.20/30. Late demand squeezed to the
Y132.33/38 area, the move dragged Usd/Jpy to Y112.20.

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