- Greece closes books on EUR 5 bln 7-year bond issue; demand tepid at 1.4 times, pays 310 bp over benchmark
- US Personal income flat in February, spending up 0.3%; savings rate 3.1%
- IMF chief Strauss-Kahn: EU lacks economic leadership
- German HICP rises 1.3%; more than forecast
- EU growth lags Asian, Americas: IMF
- BOE’s Dale: Inflation firmer than would have expected despite slack in economy
- Fitch: Clarity needed on Greek financing plan; no ratings change likely this year; outlook stays negative
- S&P 500 rises 6.66 to 1173, 10-year not yield edges up 2 bp to 3.87%
- Gold gains $5 to $1110.; oil much firmer at +2.42 to $82.42
EUR/USD spent the bulk of the US session between 1.3440 and 1.3480, consolidating gains made in Asian trade. Solid selling interest was seen on strength in London and again in NY with European corporates among the more active sellers, suggesting there remain companies that are under hedged for USD strength.
USD/JPY found buying on dips from US macro funds again today but rallies were muted with last minute fiscal year squaring up keeping a lid on rallies. Strong offers lie between 93.00 and 93.50.
Cable barely budged in US trade, trading between 1.4950 and 85 most of the day.
AUD/USD traded firmly in the states with risk assets in moderate demand across the board. Hawkish RBA comments overnight were keenly noted by specs as well. Modest resistance lies at 0.9180 and 0.9200 near-term.
