Risk on again, it looks like.
Despite warning from Merkel that the fundamental problems for the euro have only been papered over by rescue packages, EUR/USD is surging to fresh session highs, triggering stops above 1.3880.
1.3900 is resistance near-term with more at 1.3929, the 50% retracement of the drop from 1.4160 to 1.3700.
