ECB out with a few comments in their financial risk document, knocking euro lower

  • ELA must not present "obvious" monetary financing concerns
  • ELA must not increase risk of moral hazard
  • ELA must not threaten singleness of monetary policy

Timely warning shots to Greek banks and indeed today's talks if it was ever in doubt

Full 52 page report here

EURUSD 1.0984 from 1.0978 lows.

EURJPY 134.85 and EURCHF 1.0404 as yen and franc safe-haven status prevail again