USDJPY recoveries have so far been.......>

DOLLAR-YEN: USDJPY recoveries have so far been contained ahead of Y109.90 with

downside focus on a break of yesterday's low at Y109.47. Below here opens a run

at the psychological 109.00 level, ahead of the long-term 50% retracement of

Y99.02-118.66 at Y108.84.

- US CPI data the main highlight today at 1230GMT. CPI is expected to rise 0.4%

in April after the same increase in the previous month. Gasoline prices are

expected to post a further gain, as suggested by the monthly AAA data. Food

prices are expected to flatten out after posting a 0.3% rise in March. The core

CPI is forecast to rise 0.2% following below-trend 0.1% gains in the previous

two months. An extremely large apparel price decline was a key factor in March

that could be reversed in the April report.

- Speeches also scheduled from Fed's Brainard (1230GMT), Atlanta Fed Bostic

(1308GMT) & NY Fed's Williams(1400GMT).