Spain has EUR 24 bln in maturities coming due in July. An economy ministry source tells Reuters that it does not need to go to market to borrow the cash next month.
Also on the wires, EU’s Barroso calls for stress test results to be released on a bank-by-bank basis and wants an EU-wide commitment from leaders that that will happen.
EUR/USD has firmed to 1.2385 in the wake of the Spain headline. Barriers are being protected at 1.2400. Stops lie in the 1.2410/30 area on rallies.
