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Asia FX relatively sanguine.................>

OPTIONS
OPTIONS: Asia FX relatively sanguine. Consolidation the theme today with NZD and
AUD lower after a strong start over the past three days, but JPY's touched the
strongest levels of the week after equities slid in the US yesterday. Implied
vols are pretty mixed, but are rising for USDJPY, moving in tandem with 1m risk
reversals which are down for the second consecutive day, extending the pullback
from the highest RR levels since late Jan.
Key FX events today:
-0830 SNB rate decision 
-0830 Sweden unemployment figures 
-0900 Norgesbank rate decision
-1230 US Weekly jobless numbers/Empire Manufacturing 
-1545 ECB's Lautenschlaegar speaks in Florence

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