Pretty range-bound activity as the EUR consolidates its recent run. Dips have been limited to the 1.4180 area amid the usual talk of sovereign demand on any dips. A bit of two way traffic has returned to EUR/USD today with modest jitters ahead of the Portuguese austerity vote tomorrow as well as as ongoing macro concerns on the price-tag associated with bailing out the Irish banking system. Results of Irish stress tests will be released March 31, not in time for this week’s EU summit. EUR/USD trades quietly now at 1.4210.