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Usd/Jpy: Europe open Y110.13, range.....>

YEN SUMMARY
YEN SUMMARY: Usd/Jpy: Europe open Y110.13, range Y109.91-110.16, NY open
Y109.96, range Y109.95-110.69
*Rate dropped towards intra-day low of Y109.91 just ahead of the NY open. As NY
entered the fray the rate bounced towards Y110.15, following US Tsys yields.
*Following a small drop in US Tsys and XAU getting a lift, witnessed
the rate drop towards Y109.91.
*A sharp spike in US Tsys yields, saw the rate jump to Y110.25.
*Broad based dollar demand continued, as US Tsys yields rose, saw
the rate spike to a fresh intra-day high of Y110.59
*A further wave of dollar demand following US Tsys yields rising and
gold continuing to get dumped on, saw the pair print a fresh high of
Y110.69.
*The dollar pared back some of its gains following US Tsys yields
slipping and gold paring back some of its losses, with the rate dropping towards
Y110.45.
*A late spike in US Tsys yields witnessed the rate grind back over Y110.60.

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