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YEN: USD/JPY hitting the day's highs here at Y109.88 as stops seem to have been
triggered by the break of long-held resistance at the December highs of
Y109.68-73. Break has triggered some risk-on moves across the board, with
EUR/JPY, EUR/USD and USD/CNH all hitting their respective best/worst levels of
the session. No headlines crossing to prompt the move, but currency price action
well supported by US Treasury yields so far.