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Usd/Jpy: Nov27 close Y111.09, Nov28.....>

YEN SUMMARY
YEN SUMMARY: Usd/Jpy: Nov27 close Y111.09, Nov28 Asia range Y110.93-111.33,
Europe Y111.15-32
*Eur-Jpy: Nov27 close Y132.18, Nov28 Asia range Y132.10-48, Europe Y132.20-57
*Usd/Jpy rose sharply to Y111.30 in early Asia, investors reacted to comments
from Fed Powell who said, 'expects interest rates to rise somewhat further'
*Kashkari remarks 'sees no reason to raise rates when inflation continues to run
lower', briefly took the rate back under Y111.00 before hawkish rhetoric from
Fed Dudley countered
*Japanese demand extended the recovery to Y111.33 but with lack of follow
through drifted for the balance of the session
*Consolidation largely remained the theme throughout Europe. Early dollar demand
briefly re-tested the Asia high, but soon faded
*Euro-based short covering lifted Eur/Jpy through the Asia high to Y132.57.
Minor pullback extended to the Y132.30/35 area following ECB Hansson remarks
(MNI Exclusive) that 'should revisit APP if unexpected inflation change'. Yen
pairs last Y111.30/Y132.30.

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