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USDJPY dipped overnight from the 91 level on broad-based dollar weakness, as risk appetite soared on stellar earnings results from Apple. Bernanke at the Fed's Asia conference called for action on global imbalances; with the next G20 meeting on 6-7 November, this theme is likely to resurface repeatedly over the next few weeks. USDJPY and its crosses traded lower from 90.80 ahead of the Tokyo fixing and continued to slide throughout the day on short-yen position unwinds. The dollar weakness theme continues to be the key driver for the falling USDJPY; Japan’s FinMin Fuji comments – “current yen rise due to weak dollar” suggests that there is little to fear from the MoF. But downward revisions to Japan’s August leading and coincident index to 83.2 and 91.2, signals further weakness ahead for the Japanese economy; the Japanese government is to cover any tax shortfall for the current financial year by issuing more bonds. For the yen the opposing forces of risk appetite and USD weakness mean that traders continue to favour playing JPY weakness through the crosses and look to buy AUDJPY and EURJPY on dips.