• German government spokesman: Government expects no decision on aid for Greece at EU summit next week
  • German government source (anonymous, not spokesman): Should Greece aid be needed, German government is open to involvement of IMF
  • German FinMin: Euro zone states would take coordinated action if one state in group faced bankruptcy
  • Greek FinMin: Welcomes eurogroups decision on Greek aid. Aid to be granted to Greece only should need arise. Will be granted on reasonable rates
  • Swiss government raises 2010 GDP growth forecast to 1.4% from previous forecast of 0.7%
  • Shanghai share index closes up 0.5%
  • UK Treasury Chief Sec Byrne: EU has got judgement wrong over deficit
  • Belgian FinMin: Belgium ready to participate in any Greek aid scheme. Aid scheme could involve bilateral loans or guarantees
  • Euro zone February inflation confirmed at +0.3% m/m, +0.9% y/y
  • ZEW March German economic sentiment index 44.5 vs 45.1 in February, better than expected 43.7

Well looks from all the rhetoric as though Greece is going to get its aid, if infact it needs it. Can’t really fathom the details. Maybe its just me being slow. or maybe there aren’t any.

EUR/USD up at 1.3720 from early 1.3695. Early sell-off reached session low 1.3657 where sovereign purchases supported. Slightly better than expected ZEW data (see above) also helped.

Cable started around 1.5005 and fell to 1.4979, two UK clearers and a German bank notable sellers. Sovereign buy orders were tipped down at 1.4950/60 but we didn’t get that far. Sovereign buying is said to have surfaced around the lows. Stops were tripped as we went through overnight high of 1.5071 on way to session high 1.5153, presently at 1.5140. Another clearer (neither of those seen selling earlier) is said to have played a big part in getting the pairing through 1.5100.

Latest poll in Daily express shows Tories lead increasing. Maybe we might not get hung parliament after all. Fingers crossed.

EUR/GBP down at .9062 from early .9095. An early rally floundered at .9119. The .9110/30 zone continues to provide formidable resistance.

USD/JPY up at 90.65 from early 90.10. We’re stuck 90.00-91.00 range at the moment. Fiscal year end repatriation flows capping the upside. Speculation BOJ will bring in further easing measures this week limiting downside.