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Usd/Jpy: Dec5 close Y112.53, Dec6.......>

YEN SUMMARY
YEN SUMMARY: Usd/Jpy: Dec5 close Y112.53, Dec6 Asia range Y112.07-64, Europe
Y111.99-112.25
*Eur-Jpy: Dec5 close Y133.08, Dec6 Asia range Y132.69-133.21, Europe Y132.42-86
*Risk-aversion was the main theme during the Asia session, commodities and
regional equities opened softer and headed south. Usd/Jpy eased from the
mid-Y112.50's to Y112.37 before finding demand
*Once through Y112.30 the move gathered pace and extended to Y112.11, the fall
was in-line with macro sellers with added weight from BOJ Masai remarks on
downside risks to Japan's inflation outlook
*Minor recovery in early Europe stalled ahead of Y112.25, before paring gains
*Broad-based yen demand emerged, rate moved through the Asia base, briefly made
a show under Y112.00 before support from the 50% Y110.84-113.09 cushioned falls
*Despite strong German Factory Orders, Eur/Jpy slipped from Y132.86 to Y132.42.
Yen pairs later recovered, last Y112.15/Y132.65.

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