The chairman of the largest Latvian political party has shifted gears and will sign a letter of intent with the IMF. Earlier today there were rumblings that the parties could not agree.
Separately, the EU announced that it has released the EUR 1.2 bln to Latvia, the second tranche of a deal struck in January.
That’s a mild EUR/USD positive as it will end fears of a near-term Latvian default.
