Not too much net change on the morning, euro marginally weaker as concerns over Spain grow.

EUR/USD down at 1.2280 from early 1.2315. Early rally ran into decent sell interest at 1.2350/55 and it’s been downhill ever since, albeit in rather choppy fashion. We’re been as low as 1.2274 so far. EUR/JPY down at 112.40 from early 112.70.

Cable at 1.4805, effectively unchanged on day. Ran into bout of heavy selling which took us down to 1.4752 session low, but better than expected UK jobs report helped provide decent support.

Some caution though surrounds Mervyn King’s Mansion House speech tonight (19:45 GMT/20:45 BST) The Governor of the Bank of England has a habit of underminning sterling when he speaks. EUR/GBP marginally lower at .8298 from early .8315.

USD/JPY at 91.50 unchanged on the day.