EUR/USD made one last push up and reached 1.2920 but fell short of the 1.2940 area above which stops are clustered. There are now two hourly highs at 1.2920 so that may cap things this afternoon unless we get some sort of bombshell from the G7 or a surge in US equities.
On the wires, German FinMin Steinbrueck says he sees good chances for cooperation with the US for fighting the banking crisis and said he shared his views with Geithner on importance of fighting protectionism.
Also crossing the wires is news that Poland may delay euro entry until 2014. That won’t be a negative for the euro.
EUR/USD trades easier now, down at 1.2870.
