• Will meet with Italy’s Monti Tuesday (it’s all go!!)
  • Declines to comment on Greek program (what use is he?)
  • Committed to euro-zone integrity (bless)
  • French govt is fully engaged in reforms
  • French borrowing costs depend on budget deficit cuts

EUR/USD has seen some slight slippage as North America enters the fray, presently down at 1.2348.

Light sell stops through 1.2440 and more through 1.2420.