The BIS has been spotted on the bid below the 1.2500 level in EUR/USD once again this morning, the second time today. It is hard to see rallies being sustained today unless there is a radical change of sentiment toward Wall Street. With Citigroup shedding market capitalization like like trees drop their leaves this time of year, it is hard to see a sustainable bounce near-term. EUR/USD trades at 1.2516.