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Nov 1, 2006

* EUR/USD= 1.2756, dropped from 1.2761. EUR/JPY= 149.15, dropped from 149.30.
* USD/JPY= 116.93, dropped from 116.96.
* AUD/USD= 0.7746, increased from 0.7743.
* GBP/JPY= 222.94, dropped from 223.02. GBP/USD= 1.9071, dropped from 1.9072.

* After dropping last night as a result of the US economic reports, the USD remained stable through the day against     the GBP and JPY, with a decrease of only 3-4 pips.

* UBS noted:"Ranges were tight and flows limited and, with no fresh impetus, the USD managed to hold above the     crucial USD/JPY 116.50 JPY support zone, while EUR/USD offers above 1.2810 USD more than cushioned it in Asia,     but we'd expect it to head lower from here."

* Tomorrow, November 2nd, the European Central Bank policy meeting will take place. Although no interest rates     changes are expected, pay attention to EUR movements.





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