Heavy buying by a Swiss bank has helped carry EUR/US through the 1.25 level and as far as 1.2540 so far. US equities are up about 1.5% prompting dealers to hope that US markets have broken the string of overseas losses. EUR/JPY is firmer as well with fears of BOJ intervention to weaken the Yen amplified by the G7 giving them “permission” via today’s unusual statement on Yen strength.