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Yen consolidates from 5-year lows against major pairs

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Notes/Observations -S&P affirmed Italy at BBB; outlook still negative - Ireland to exit its bailout program this weekend; 1st EMU member to do so - Various G7 officials (Australia and Canada) reiterate standard rhetoric on FX level that markets determine levels - Spain Debt to GDP ratio hits record high in Q3 at 93/4% - Italy general govt debt level hits record €2.085T - Las Vegas sands said to drop $35B Madrid, Spain 'EuroVegas' casino plan - US November PPI expected to confirm pipeline Reported by FXstreet.com 9 hours ago.

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