That’s what gave us the pop in EUR/USD.

  • Talking with German govt over modality of loans
  • Loans to IMF mustn’t be earmarked for euro zone
  • Important to observe IMF rules in use of funds

Another factor being mentioned to explain violent pop in EUR/USD is news that China is to create $300 bln fx vehicle. The vehicle is to comprise two funds, one focused on Europe, one on US.

I’d think the BUBA comments had more effect.