We've seen another US$ sell-off with the Euro benefitting again as equity traders/fund managers re-balance their books. EURUSD has risen again to the heady heights of 1.1500 dragging EURGBP with it to 0.7338 (GBPEUR down to 1.3627) before running into a few sellers again

GBPUSD was initially capped at 1.5700 again but has found fresh legs to 1.5727 so far this morning with the Pound overall holding onto its recent gains versus the ever-weakening commodity linked currencies

USDJPY has fallen to 120.25 with USDCHF still on the back foot at 0.9434 albeit of lows of 0.9364 with traders fearing that the SNB can not stand by and watch the Franc keep appreciating.

On Friday I wrote "I've been warning about global meltdown/correction for a while now. It remains to be seen whether the full programme is underway but the portents aren't good. Right now things are looking somewhat bleaker

Keep up with all the latest news and price action with me and the team at www.forexlive.com . Follow me on twitter at www.twitter.com/mspfx

A failure to finish was yet again our downfall on Saturday as the Shrimpers went down 0-1. A good performance with enough chances created but still not good enough to grab any points www.southendunited.co.uk.

And finally our thoughts go out to all those involved in the awful air tragedy on the UK's A27. Such unnecessary loss of life proves that some things really are more important than football or forex.

Interbank Rates 10.15 BST

GBPUSD 1.5709

EURUSD 1.1480

EURGBP 0.7306

GBPEUR 1.3684

USDJPY 120.43

USDCHF 0.9418

AUDUSD 0.7228

USDCAD 1.3254

GBPAUD 2.1734

GBPCHF 1.4797

GBPCAD 2.0822

GBPZAR 20.7913

GBPHKD 12.1807

GBPSGD 2.2187