EUR/USD sits at 1.4155, up from a North American close Friday around 1.4100, while EUR/JPY is up at 134.00 from around 132.90. Risk appetite starts the week in good shape, with Asian stocks making across the board gains.
Helping underpin risk sentiment is news CIT are considering an offer from some of their largest bondholders to provide $3.0 bln in bridge financing, which would help avoid bankruptcy.
Next hurdle for EUR/USD bulls to overcome will be 1.4200, where there is said to be sizeable option barrier interest, and an Asian sovereign is expected to put up a stout defence of said level.
Cable is up at 1.6395 from a North American close Friday around 1.6330. Good news on the UK housing front. Rightmove reports UK house prices grew +0.6% in July after falling -0.4% in the prevous month, falling -3.1% in annualized terms, the smallest decline in a year.
