Waiting for Godot, or rather Merkel and Sarkozy who are busy plotting the future of the euro zone somewhere in Paris.

EUR/USD up at 1.3440 from early 1.3405, having been as high as 1.3460. Risk sentiment generally good this morning. Selling out of the Middle East capped the gains.

USD/JPY about 10 pips firmer on the day at 78.05, underpinned by Middle Eastern buying. Risk on backdrop and higher US treassury yields helping support pairing.

Cable up at 1.5645 from early 1.5600. Better than expected UK services PMI (see above) have lent the pairing support. Sources note sell orders clustered up at 1.5665/75 and they’ve so far capped gains.

AUD/USD up at 1.0255 from early 1.0215. Risk on innit