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Usd/Jpy: Nov29 close Y111.86, Nov30.....>

YEN SUMMARY
YEN SUMMARY: Usd/Jpy: Nov29 close Y111.86, Nov30 Asia range Y111.88-112.14,
Europe Y112.11-48
*Eur-Jpy: Nov29 close Y132.58, Nov30 Asia range Y132.54-133.07, Europe
Y132.65-133.31
*Demand in Eur/Jpy from reported Japanese asset managers lifted Usd/Jpy back
above Y112.00 in early Asia, gains extended to Y112.11 but soon faded
*Minor pullback consolidated either side of Y112.00 before short covering ahead
of and into Europe squeezed to Y112.21
*The strong dollar theme continued throughout the morning session. Aided by yen
crosses, firmer UST yields extended the slow grind to Y112.48 before easing
*Eur/Jpy remained well supported ahead of Y133.00 into Europe, euro-based short
covering squeezed to Y133.31 but soon faded
*The strong dollar theme started to pressure Eur/Usd, Eur/Jpy tracked the move
back under Y133.00
*Soft headline and core EMU CPI added to the risk averse tone, rate touched
pullback lows of Y132.65. Yen pairs last Y132.80/Y112.33.

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