A wire report highlighting El Pais story has helped the euro this morning. El Pais suggests Russia’s sovereign wealth fund may lift its’ emargo on buying Spanish bonds. The paper cites comments from deputy PM Zhukov suggesting the Russian Finance Ministry has “reason to revise it’s position.”
In November last year the Russian wealth fund changed it’s position, and can presently invest in bonds issued by Austria, Belgium, UK, Germany Denmark, Canada, Luxembourg, Netherlands, US, Finland and France.
EUR/USD has been as high as 1.3368, presently back at 1.3358.
