EUR/USD short-covering remains strong as traders prepare for a potential Greek bailout of some flavor over the weekend.
10-yr yields spreads have narrowed to 3.92 bp from closing levels about 428 bp last night. We traded above 450 bp on an intraday basis yesterday.
EUR/USD is testing resistance at 1.3465. Trendline resistance at 1.3510 is key near-term.
