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USDJPY has so far managed to consolidate......>

FOREX
FOREX: USDJPY has so far managed to consolidate above Y110 in early Europe, a
worthy reminder that the level also holds very large ($1.14bn) optional-expiry
interest for today's NY cut. From a technical point a hold above the 100 &
200-dma's seen key, a close above Y111.00 is needed to change the short-term
outlook. Meanwhile, profit taking across the board has seen EURUSD ease 30 pips
to $1.1514 and GBPUSD touch $1.2829. Commodity based currencies largely seen
consolidating gains with NZD top of the G10 pile (+0.41%).  

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