Usd/Jpy: Europe open Y109.38, range.....>

YEN SUMMARY: Usd/Jpy: Europe open Y109.38, range Y109.30-109.85, NY open

Y109.81, range Y109.67-Y110.20

*The pair received a further lift in early NY following US Tsys yields, with the

rate printing a new intraday high of Y109.93.

*As US Tsys yields continued to rise, the rate followed suit breaking the

resistance at Y110.00, stops were triggered, printing a fresh highs of Y110.10

before dropping back to Y110.00.

*A wave of broad based dollar selling witnessed the rate drop to

pullback lows of Y109.80.

*The dollar received a fresh lift as US Tsys yields grinded higher and XAU

turning negative with the rate grinding back over Y110.00.

*As US Tsys Yields continue to grind higher and XAU slips further,

the rate has jumped to a fresh intra-day high of Y110.20.

*The rate pared back some of its earlier gains, following a drop

in US Tsys yields and a small bounce in XAU. The pair dropped from its fresh

high of Y110.20 towards Y109.95, dip buyers emerged pushing the rate to Y110.10.