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Usd/Jpy: European open Y113.19, range...>

YEN SUMMARY
YEN SUMMARY: Usd/Jpy: European open Y113.19, range Y113.16-38, NY open Y113.23,
range Y113.19-113.35
*Dip buyers cushioned, broad-based yen supply emerged, rate squeezed to Y113.38
before fading in late European morning trade.
*Early NY witnessed firming US Tsys Yields, the rate grinded back towards
Y113.25.
*The dollar gets a lift following US Tsys Yields, this combined with
pressure on the yen via the crosses has seen the rate grind towards the
intra-day high of Y113.38.
*Consolidation remained the theme throughout the NY session as the market looks
to Friday's month/year end re-balancing, the market is reporting large US dollar
sell interest.

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