The pairing has failed to make any significant top-side progress at the start of the new week with offers in the 0.8970/80 area limiting gains. These have been counter balanced to some extent by EUR/JPY linked bids in the 0.8940/45 area, with reports also of fund interest down around the 0.8910/20 area. November PMI data dominates the European calendar this morning with core country and EZ data both scheduled. The ECB meets on Thursday but no change is expected after last months 50bp cut.