A crappy end to a crappy week.

EUR/USD up at 1.2365 from early 1.2345. Spanish bond yields have come lower again (see above) and this will have lent the single currency some support. Spain’s IBEX best performing European stockmarket, up +2.3% this morning.

Speculation that Spain will request a bailout at meeting of finance ministers and central bank governors next month. This will pave the way for the ECB to buy the country’s debt.

EUR/USD sell orders well documented up at 1.2380/00 and they’re proving a hurdle for the euro bulls, the session high being 1.2381.

Buy stops seen through 1.2400.

USD/JPY up marginally at 79.45 from early 79.30 having been as high as 79.49. Given price action anyone would think there was barrier option interest at 79.50, but we have no confirmation of such.

Cable totally unchanged from level that greeted me first thing, namely 1.5705. Deep joy.

AUD/USD down marginaly at 1.0445 from early 1.0470. Two UK clearers notable sellers of the pairing this morning.