ECB will make EFSF debt eligible as collateral

To my knowledge, the European Financial stability Facility (euroTARP, to many) has not issued any debt yet, but if and when it does, it will be eligible for use as collateral at the ECB, the Bank says.

EUR/USD continues to trade in volatile fashion, supported at the moment by firmer equities and commodities. Gold has firmed up into the mid $1320s after dipping as low as $1315 earlier today. EUR/USD now 1.3960.