In the FX markets there were limited movements overnight

Markets overnight Federal Reserve’s Beige Book indicated that the pace of decline in economic activity has moderated and even begun to stabilise, and a Commerce Department report showed that the steep drop in US business investment spending appears to be bottoming out. Both reports lifted expectations that the US recession that began in December 2007 may be drawing to an end. However, it was noted that retail demand was “sluggish” in most areas, and auto sales were “mixed”. (See Fed report