The JPY, and to a slightly lesser extent the USD, have seen some strength in Asia overnight with EUR/USD presently at 1.2730 compared to a North American close Friday around 1.2800, while EUR/JPY is down around113.80 from 115.00. Sentiment hasn’t been helped by reports individual European central banks are at risk of defaulting on their Fed currency swap lines and leading Republican Senators voicing doubts the Obama administrations’ stimulus plan will be passed in the Senate in its present form.