Shanghai and HK are 1.1% and 1.3% higher respectively in early trade, bolstered by seeming progress on Greek debt as well as the RRR cut. Other regional markets are also in positive territory, by around 1.25% on average.

Gold is $1736/oz and Oil $105/bbl.

EUR/JPY continues to slide lower after the big move higher this morning stalled at a previous daily high near 105.70.