- Banque de France Governor Noyer “totally excludes” the possibility of a Greek default.
- Opaqueness of CDS market no longer acceptable
- CDS should be supervised by central banks
- Normalization as non-conventional measures are removed will be prudent and progressive
USD/JPY has extended gains on short-covering with support firming up in the 1.3450/3550 area. A break of 1.3705/35 is needed to set off a more protracted squeeze.
