It’s not US 10-year yields which are driving the market today with that market only marginally lower on the session at 3.43%. Dealers in the interbank market don’t have much to report either with short-covering ahead of tonight’s summit end being blamed for the EUR short covering. This in turn is affecting other pairs like AUD/USD and USD/JPY. There were reports earlier of some stops in the EUR/USD above 1.3300 and perhaps they are also being targeted.