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Usd/Jpy: Dec15 close Y112.58, Dec18.....>

YEN SUMMARY
YEN SUMMARY: Usd/Jpy: Dec15 close Y112.58, Dec18 Asia range Y112.49-83, Europe
Y112.62-75
*Eur-Jpy: Dec15 close Y132.38, Dec18 Asia range Y132.16-57, Europe Y132.50-87
*Dollar-yen opened in Asia toward the upper side of Friday's Y112.03-74 range
where progress on the pro-growth Republican tax package supported the dollar
*Once Japanese markets started in earnest, Usd/Jpy climbed from Y112.49 to
Y112.83, firmer US rate yields, a higher Nikkei and Tokyo-fix related demand
encouraged the move
*Reported supply from Japanese exporters around Y112.80 capped the move, the
pair then eased to consolidate 5 pips either side of Y112.65
*As UST yields firmed into Europe, Usd/Jpy squeezed to Y112.75 but with lack of
follow through drifted to consolidate in narrow range trade
*The euro opened on a bid tone across the board, the cross took out resistance
from the Asia with gains extending to Y132.87
*Euro area final November HICP data came in-lin with expectations. Pullbacks
remained shallow ahead of NY, last Y132.80.

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