- Increase in European bail-out needed if European politicians want private sector support for new Greek aid package
- Doubling in bail-out fund needed to take into account contagion risk for Ireland and Portugal in event of new Greek aid package
EUR/USD has traded lower still in Asia, presently down at 1.4128 from North American close Wednesday up around 1.4175.
Talk now of 1.4100 barrier option interest which is being defended. We’ve bounced from session low of 1.4111.
Euro zone data due this morning:
08:00 GMT: Italian CPI May (final) expected +0.2% m/m, +3.0% y/y
09:00 GMT: Euro zone CPI for May expected flat m/m, +2.7% y/y, core +1.6% y/y
09:00 GMT: Euro zone employment +0.2% q/q
