Dow Jones reported overnight that the Korean Development Bank was no longer talking with Lehman Brothers about a combination. That talk was denied a short while ago which helped boost equity markets, and in turn, EUR/JPY. EUR/USD has rebounded back above the 1.4100 level from 1.4059 lows a short while ago.
On the data front, pending home sales dipped 3.2% and wholesale inventories rose 1.4% while the TIPP/IDB index jumped to an 11 month high as gasoline prices continued to dip during the survey period.