The Dollar is under most pressure against a resurgent Yen so far this morning, with option barriers at the 105.00 level taken out, but the 104.50 level has proved to be a tougher nut to crack, with heavy bids appearing at this level. Oil is under pressure too, with a move below $96.50 so far. Elsewhere on the Macro level, not that anyone is really taking any notice in this climate, the fall in Eurozone wage costs to 2.7% in Q2 from an upwardly revised 3.5%. Looking at the data in more detail, it is striking to see the collapse in the German reading to 0.7% y/y in Q2 from 2.1 y/y in Q1. No sign of a wage price spiral there Herr Weber !