EUR/USD sits at 1,3780, hardly changed from North American close Tuesday around 1.3770, Asian trade confined to uninspired 1.3764-1.3788 range. So far protection of barrier option interest up at 1.3800 is capping recent rally.
Euro zone data today is thin on the ground:
10:00 GMT: Euro zone labour costs Q4 expected 2.7% y/y
10:00 GMT: Euro zone construction output for January
10:05 GMT: Italian current account for January
Nothing there to really whet the appetite.
Article by AEP in The Telegraph will have been noted. Entitled “The proposed EU Greek bail-out cannot simply bypass German law.”
Above aforementioned 1.3800, sovereign sell interest tipped up at 1.3825/50.
