With claims above 400k for the first time in a month, traders are scaling-back expectations for a strong employment report tomorrow. That, combined with strong options-related selling interest at 1.3520 is prompting a dip to the 1.3480/85 area. Expect the options guys who kicked a few out on the latest rally to hoover them back in down here. Rinse and repeat until 10 am NY time when 1.3500 vanilla strikes expire.