- Broad-based JPY demand pressured via the....>

FOREX: - Broad-based JPY demand pressured via the crosses at the NY crossover.

The early risk off move was attributed to a break of the 200-dma in Dow futures

& soft UST yields.

- US equities pushed further in negative territory at the open, trading through

the S&P's 200-dma. JPY remained strong against USD, EUR, NZD, GBP, CAD & AUD,

adding weight to the majors.

- EURUSD initially shrugged off weak EMU CPI headline & core data, but soon

encountered pressure via EURJPY to $1.1948. Markets later faded the move, rate

recovered to $1.1985/90 with focus on the $1.20 handle and resistance from the

200-dma ($1.2017).

- USDJPY continued its downtrend to briefly make a show under Y109, before

staging a recovery with improving US equities to Y109.15/20.

- Having rejected a move back above $1.3600, GBPUSD pressed to $1.3538 before

support from the 200-dma cushioned falls.

- USDCAD briefly traded above C$1.2900 on soft oil prices and CADJPY supply.

- Main focus on tomorrow's US Jobs report at 1230GMT (Median 193k).