Eurozone Industrial Production fell by 0.3% in July and a very disappointing 1.7% year on year. This is much weaker than the yearly fall of 0.7% that had been forecast, but this is being glossed over as markets look elsewhere for their focus. The chatter that the Chinese may be poised to reduce their Dollar holdings and the ongoing Lehman machinations continue to weigh. A few light stops were triggered at 1.4110, but offers were seen in the 1.4130 area. Earlier, the much lower than expected French CPI figure, down 0.1% m/m and up 3.5% y/y will raise the possibility of a sharper slowdown in the Eurozone rate to around 3.6% from last month’s 4.0%, nicely below the 3.8% that is forecast.