- Dutch PM and entire cabinet resign
- BuBa’s Weidmann: ECB must do what’s needed when inflation rises
- Weidmann: If more bond buys needed, we should do them
- China and US plan early May talks
- Six weeks of no ECB bond buys
- European stocks slammed
- Die Welt: Germany to hike 2013 growth forecast
- Ifo director: No chance for a competitive Greece in eurozone
- Swedish fin min warns on Spanish banks
- Merkel: Growth the key to cutting debt
- S&P 500 -0.8% to 1367
- JPY leads, AUD lags
The euro carried some downside momentum into the US session after opening at 1.3434. After finding support at 1.3220, it began a climb back to 1.3147 before the Dutch headlines cut the legs out from under the market, sending EUR/USD as low as 1.3104. After the London fix, however, it was a slow recovery in the euro and risk appetite, climbing to 1.3153.
Cable followed the same pattern, touching narrowly below support at 1.6078 before reversing and closing out the day in positive territory at 1.6126.
USD/JPY fell in Asia and early Europe and was never able to recover. The pair was essentially flat, ending at 81.16 compared to 81.10 at the open.
CAD steadily improved in North American trading after a solid wholesale sales report. USD/CAD slumped to 0.9910 from 0.9975.
