EU economics commissioner Rehn says the EU is trying to toughen budget rules with having to amend the EU Treaty. As long-time observers will remember, EU Treaty referendums sometimes go awry, prompting major agita for the markets.
EUR/USD is consolidating gains in the 1.240s as the market awaits the open of the cash markets on Wall St. Stocks and commodities are firmer today while the dollar and gold give some ground.
Resistance for EUR/USD resides at 1.2445/50; stops are perched just above.
