There is still plenty of uncertainty surrounding the EZ debt crisis, as can be seen in the press headlines which Gerry posted, but the EUR/USD has ignored this and has opened at 1.3190 in early interbank trade, up 50 pips from its NY close. The AUD has done even better, up at 1.0790 as dealers anticipate a risk-friendly outcome. Elsewhere, USD/JPY continues to motor higher and is consolidating overnight gains just above 79.50, cable is at 1.5860 and EUR/CHF is at 1.2085.

Good luck today.