USD/JPY last trades at Y110.24,..........>

DOLLAR-YEN: USD/JPY last trades at Y110.24, virtually unch. on the day, after

topping the G10 currency leaderboard on Tuesday.

- The rate legged lower into the Asia open on Tuesday, touching an early session

low of Y110.59, as hawkish trade comments from U.S. TR Lighthizer & U.S. Tsy Sec

Mnuchin hit the wires. Subsequent recovery was capped at Y110.85 by a soft open

for the Nikkei 225. USD/JPY's decline was accelerated by the Global Times'

ope-ed piece, which suggested that China is prepared for a temporary breakdown

in talks with the U.S. This allowed USD/JPY to retest Y110.59. The RBA's

decision to leave its cash rate unch. briefly sent the pair back to its session

high, but it slid through the European & NY sessions, finishing 50 pips worse

off, as escalating Sino-U.S. trade weighed on global equity indices.

- Bears look to the Y110.00 mark, while Y110.60, which hosts the 100-DMA & the

lower Bollinger band (2%) provides the initial bullish target.

- The BoJ will release the minutes from its Mar MonPol meeting at

0050BST/0850JST. The Summary of Opinions from the latest meeting is due on

Friday.