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Usd/Jpy: European open Y112.56, range...>

YEN SUMMARY
YEN SUMMARY: Usd/Jpy: European open Y112.56, range Y112.28-65, NY open Y112.36,
range Y111.41-112.87
*As the yen continued to firm across the board, Usd/Jpy slipped to fresh session
lows of Y112.28, just ahead of NY.
*Fresh wave of demand extend the recovery off European morning lows
(Y112.28) to the Y112.50/55 area. The move was following firmer US Tsys Yields.
*Moves through the Asia high with gains extending to Y112.87 before fading,
again firmer US Tsys yields leading the pair.
*A sharp drop in the dollar as ABC reported "Flynn prepared to
testify against Trump. The rate crashed from Y112.82 to fresh session lows of
Y112.06.
*Continued pressure on the dollar, as risk off continued, over the
Flynn story witnessed the rate drop further, to session lows of Y111.41.
*The dollar received a further lift following comments from Mcconnell
"Republicans have the votes for tax bill". The rate jumped over Y112.00 and went
onto to print recovery highs of Y112.30 before fading back towards Y112.00. 

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