Spanish and Italian government bond yields are trading lower on the day.

Helping underpin EUR/USD, but we’re struggling as usual to go anywhere meaningful.

Am I the only person out there that thinks EUR/USD should be firmer?

UPDATE: Guess I’m not the only bull out there.

Dow Jones reporting that Morgan Stanley retains its’ bullish EUR stance. They see the Der Spiegel article as supportive, saying “We believe that the prospect of such measures will provide renewed stability in European asset markets, allowing EUR to extend the recent recovery trend in the near term’

They add that a move above the recent range top could open way for gains toward 1.26/1.27 area.

That’s as maybe. First we need to get through those dastardly 1.2380/00 sell orders


We sit at 1.2362 in lacklustre trade.