London, May 25 (BridgeNews) - The following is a summary of overnight moves since Europe's close, plus possible leaders for the session ahead:
KEY ISSUES:

* Majors stick to ranges, U.S., U.K, Q1 GDP revisions eyed
* Official comments raise temperature about possible interventions

--Major FX rates generally kept to inside ranges in Asia amid some interesting comments from U.S., Japanese and euro zone officials.
--USD/JPY oscillated within a 118.93-120.36 range in Asia. An initial downside foray met good demand attributed to a Japanese account. It then fell back after Fed Chair Greenspan said U.S. inflation seems "likely to be contained" and that there was still a risk of greater-than-expected economic weakening. But it bounced back into the European open after former Japanese Vice Finance Minister for International Affairs Sakakibara was reported to have said he doesn't expect the JPY to move above its recent range, which was taken as a warning of possible BOJ intervention. Adding to the mix, Japanese Finance Minister Shiokawa said Economy Minister Takenaka had proposed a wider and active use of Japan's FX reserves to aid economic recovery. The Financial Times, meantime, quotes Keidanren's Imai saying Japan may need to nationalize one or two large banks and also runs a story saying that Japanese banks' bad loan problems may be getting worse rather than better.
--EUR/JPY largely traded in step with USD/JPY between 102.50-103.35.
--EUR/USD was similarly locked between 0.8562-0.8600. Before Greenspan spoke, Fed's Meyer sparked some interest by saying U.S. inflation was running higher than an acceptable long-run level. He also said the continued rise of the USD versus the EUR was a "puzzle" and expressed caution about any Japanese strategy that would lower the JPY. Heading into Europe's open, BBK President Welteke is being reported as saying the ECB is still watching the EUR as recent inflationary pressures have been induced by the currency's weakness. This may raise fears of possible ECB intervention. The first revision of U.S. first quarter growth data is due 1230 GMT (forecast: 1.4% from 2.0% and deflator unchanged at 3.2%). U.S. April durable goods data are due 1400 GMT.
--USD/CHF mirrored EUR/USD in a 1.7738-86 range in Asia, while EUR/CHF kept to 1.5235-1.5252.
--The GBP remained under pressure, with cable holding just above Thursday's 6-month low of 1.4075 and EUR/GBP touching a 4-day high of 0.6101. Support could come today from the FT report that U.K.'s BT is close to selling Yell to U.S.'s Hicks, Muse, Tate and Furst and Apax Partners for around 2 billion GBP.
The FT also quotes U.K. Prime Minister Blair as saying he thinks he can win a i referendum on joining the euro zone. The second estimate of U.K. first quarter growth is released at 0830 GMT (first estimate: up 0.3% on quarter).
--A U.S. investment house was said to counter sales from another U.S. account and a corporate player in AUD/USD, driving the pair to a 2-day high of 0.5221.