US and UK push for higher capital standards than Basel III hurting EUR

A report on CNBC that the US and UK will call for an additional 2-3% capital buffer for banks than what is required by Basel III is helping undermine the EUR. The European banking system is under-capitalized and raising the standards further just exacerbates the problem, the thinking goes.

Central bank bids are seen in the 1.3660/70 area but stops lie below 1.3650.