Traders report some short-covering from hedge funds in the 1.2550/60 area after the euro bounced twice from near 1.2540.
1.2610 is the first level of significant resistance on rebounds.
On the wires, a Spanish labor leaders says austerity measures will be devastating for growth and employment in Spain.
Yes they will…
EUR/USD trades a bit firmer, at 1.2566.
