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Usd/Jpy: European open Y112.82, range...>

YEN SUMMARY
YEN SUMMARY: Usd/Jpy: European open Y112.82, range Y112.79-113.07, NY open
Y112.90, range Y112.56-113.09
*Usd/Jpy squeezed to fresh daily highs of Y113.07, but soon faded. Soft UST
yields further pressured to the Y112.75/80 area in late European trade.
*Yen crosses provided appetite with a move back above Y113.00,
gains extend to Y113.05, before fading back towards Y112.85.
*The break back above Y113.00 triggered renewed demand from momentum
type accounts, rate touched extended session highs of Y113.09 before fading back
under Y113.00.
*Yen demand through the crosses continued, as US Tsys yields slipped.
The rate dropped to pullback lows of Y112.69.
*The dollar received a small lift as US Tsys yields rallied a little and cable
dropped, the rate grinded back towards Y112.85.
*The dollar lost more ground, as the Dow slipped and gold rallied. The rate 
dropped to pullback lows of Y112.56.

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