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Volumes remained light overnight with....>

DOLLAR-YEN: Volumes remained light overnight with Singapore closed for holiday,
dollar-yen traded a very narrow Y112.14-27 range. Fresh demand emerged in early
Europe, rate lifted to Y112.33 but with lack of follow through pared light
gains. Resistance is seen at Y112.48/55 (Oct17 high, 50% Y113.44-111.65). There
is also a very large Y112.30 ($1.15bn) option expiry rolling off for today's NY
cut which could feature. Support remains at Y112.00 (Y112.04 - Oct17 low). Main
data highlight in the US today from Housing Starts at 1230GMT. Dollar-yen last

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