EUR/USD triggered a swarm of stops at 1.3695, falling to 1.3685 so far. Irish woes are leading the euro lower across the board.
On the wires, the Irish central bank governor says the German proposal to create a sovereign default mechanism may be destabilizing markets i the short-term.
Current Irish bond yields are at crisis levels and will not last but they will never get back to the levels seen in 2005-2006.
