Not sure whether this is new or contributed to the earlier selloff but CNBC reports that there is a story in the Handelsblatt (German business newspaper) that the total private-sector rollover of Greek debt will come in at only EUR 15 bln, half the expected contribution.

Despite assurances that Italian banks have passed their stress tests, shares in the banks are being hard hit today, a drag on the euro. Tough to find a “clean” market to trade today. USD/CHF might be your best bet now that the market is much less short after the big squeeze earlier today.