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Friday, October 27, 2006

USD/JPY: Decent Bids Emerging But Quality Still On The Offer

Decent bids in USD/JPY are being encountered around 117.15/25 as CTA's and other funds along with quasi-officials buy. However, quality names also still on the offer and levels around the 117.50 area are seen to offer value as bears target the lumpy stops below the 117.00 mark.

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