The single currency has recovered relatively well from the Moody’s French downgrade and warnings that there could be more to come.

EUR/USD up at 1.2810 from early 1.2995, EUR/JPY up at 104.25 from around 104.10. It’s been very lacklustre fare again this morning, not helped by the proximity of todays Eurogroup deliberations.

USD/JPY effectively unchanged at 81.30 despite everyman and his dog seemingly bullish the pairing. Barrier option interest remains up at 81.75 and 82.00.

Cable touch firmer at 1.5930 from early 1.5915.