Dealers are reporting that GBP/JPY selling by macro funds is leading the way this morning with GBP selling also very apparent against the USD and the EUR. Not much in the way of big bids in the cable until 1.5900. Elsewhere dealers are reporting big bids on the EBS in USD/JPY, with $250 million on the bid every 10 pips. These bids are getting filled by the JPY cross selling.