EUR/USD rallies are limited to the low 1.2060s since bottoming at session and trend lows as 1.2042 at midday in New York.
US share prices are heading into the close on there lows, helping keep risk appetites low amid fears that Spain may need a full-fledged bailout and that Greece may be in for a second debt restructuring. The S&P is down a bit more than 1.1%.
UPDATE: Spoke too soon. Stocks have bounced about 7 points from their lows, helping lift EUR/USD back toward afternoon highs in the 1.2065 area.
