President Obama is on the tube, taking credit for finding some change under the cushions on the sofa. His administration has found $17 bln in savings in a $3.5 trln federal budget. Well done.

Markets are taking a breather aftr an early sprint.Stocks are lower on the day after shedding early gains and currencies are following suit. Makes sense given the big rallies of recent sessions.

EUR/USD support is at 1.3375 near-term.