A deal to bailout the automakers has been reached in the Senate. A press conference will happen at 2:30. It is likely that the %25 bln already appropriated to retool for higher-mileage cars will be used to fund the bridge loan.
Stocks are rising on the news and EUR/JPY is bumping up as well.
In EUR/USD, keep an eye on resistance between 1.2590 and 1.2610.
