• Have strong programme in place to help Greece, others
  • Expects Greek rescue programme to work
  • Euro is a very credible currency
  • Price stability remains primary goal

EUR/USD trading a little firmer from where it closed out Friday in North American, up at 1.2432 from around 1.2385, with China’s move to relax yuan’s peg to dollar giving risk sentiment a boost. European stocks set to open firmer.

Euro zone economic data, as is the norm for a Monday, thin on the ground. Only Italian current account data for April due.

Given where we are, probably worth mentioning the 1.19-1.25 dnt which is said to be in place.