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Usd/Jpy: European open Y112.58, range...>

YEN SUMMARY
YEN SUMMARY: Usd/Jpy: European open Y112.58, range Y112.57-88, NY open Y112.66,
range Y112.07-112.82
*Strong US Retail Sales headline and components triggered fresh
dollar demand across the board. Usd/Jpy touched react highs of Y112.76 before
fading towards Y112.65.
*The dollar received a lift across the board following commodities dropping and
a dovish tone from the ECB's Draghi. The rate jumped towards Y112.80 before
losing momentum.
*A sharp drop in US Tsys yields and commodities rallying witnessed a
drop in the pair, with the rate falling from Y112.78 towards Y112.60.
*As the S&P and Dow drop to flat on the day, along with falling US
Tsys Yields the pair has dropped to fresh session lows of Y112.40.
*Broad based Yen demand across the board, this combined with falling
US Tsys Yields saw the rate drop to fresh session lows of Y112.07.
*Dip buyers emerged towards the NY close, as US Tsys Yields firmed with the rate
grinding towards Y112.25. 

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