EUR/USD is perky in early US trade despite an S&P downgrade for Italy and a slide in German investor confidence.
1.3720/25 is providing resistance on rebounds as it has for much of the week since gapping to the downside on the Asian open Monday morning.
About the most positive thing that can be said for the euro today is that talk of a Greek referendum on staying the course on austerity has been denied. There is no chance of that bad-boy passing if put to a vote.
The economic calendar is light today with housing starts the main bit of news this morning. This just in: They are expected to be weak.
EUR/USD changes hands now around 1.3705.
