EUR/USD has slipped back again, presently at 1.4950, with a UK clearer seen as good seller in this latest dip.

Obama’s comment that Hu Jintao has agreed to seek “market-orientated exchange rates” is being taken by some as indicating progress has been made in nudging China toward gradually letting the yuan rise. I don’t include myself in their number, but hey ho that’s what it’s all about…..opinions. Everyone has one. Sure they’ll get round to it, but don’t see it happening anytime soon.