The Nikkei fell by 1.25% on the open which put pressure on JPY crosses. The better than expected Australian job numbers changed the sentiment and caused some buy-back of AUD/JPY, EUR/JPY and GBP/JPY. Most players expect range trading ahead of US jobless and retail sales numbers.

Order books are light with EUR/JPY bids at 115.00-10 and offers around 117.50. AUD/USD sees corporate buying interest at .6460-70 and offers from investment funds at .6660-70. EUR/USD is dominated by large option interest. There has been some large volume in the cable today, unusually for this time zone, with competing European interests buying and selling.

Ranges: EUR/USD 1.2860-1.2908, USD/JPY 90.14-43, Cable 1.4344-1.4406, EUR/JPY 115.93-116.69 and AUD/USD .6513-96.