The narrow range was defined in the first few minutes of trading and has remained quiet with a mildly steady tone. Yesterday’s volume was up from the previous at 35,342 lots as specs sold heavily to commercials both in July and in forwards. Spec buying came into the market possibly provoked by the strong Real. 8:00 is uncertain.

The ¥ is the only currency that is lower against the $ including the BRIC currencies. USDMXN is 23.515 -0.231 (-0.9728%), USDCOP is 3,849.00 -2 (-0.0519%) and USDBRL is 5.7100 on the CME, -.0095 from the spot close, -.17%.

Bond futures are higher and steady while equities are lower after a banner day. Metals are higher as is crude. Grains are higher, cotton and cocoa are higher while sugar is lower.