Most of today's price changes came during a low volume Asian trading day. On a relative basis, volume was even less during the eurozone morning and the combined eurozone afternoon/N. American morning. EUR/USD's intraday price bias was set early and it was down. USD/JPY managed to touch intraday lows in late eurozone morning trading, but with a range of 78.20 to 78.65, there is little in practical terms to get excited about. In trading that probably represent position clearing, short covering and general order filling, EUR/USD has ticked up into the 16:00 fix, while USD/JPY is sitting mid-range, lacking direction and momentum. Intraday, the inability of equities to advance credibly has soured EUR buying interest and FX trading generally. M.B.