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YEN SUMMARY
YEN SUMMARY: Usd/Jpy: European open Y111.39, range Y111.16-46, NY open Y111.23,
range Y110.84-111.25
*Having earlier stalled ahead of Y111.35, fresh dollar supply emerged
with a move to Y111.19. Continued pressure on the dollar in early NY,
witnessed the rate print fresh intra-day lows of Y111.02.
*Took out the reported Japanese demand through Y111.00, touched
extended pullback lows of Y110.88.
*The dollar received a lift across the board, as XAU drops sharply and a small
rally in US Tsys yields. The rate spiked to recovery highs of Y111.25, before
fading.
*A sharp drop in the pair as reports that "Japan gets a signal that's seen
N.Korea missile launch prep". The pair dropped from Y111.15 to session lows of
Y110.84 on the news.
*Broad based dollar demand in reaction to hawkish comments from the
Fed's Kaplan "RATE HIKE LIKELY APPROPRIATE IN NEAR FUTURE" and "LIKELY TO
ACHIEVE 2% INFL TARGET OVER MEDIUM TERM", the rate jumped back towards Y111.10.