The JPY and USD have seen accelerated gains overnight as the well entrenched trend has continued. Among factors driving the market are ongoing deleveraging/U.S. repatriation, increased global recessionary fears and probable resultant monetary easing benefitting the two lowest yielding currencies and talk of Citic stting on very large underwater exposures in AUD and EUR. Technical considerations have helped accelerate the moves, as important supports have given out. EUR/USD is presently at 1.2890, some way from its low in very volatile conditions.