It’s nice to see that the White House is taking its time on crafting an auto bailout. No decisions have been made and no annoncement is imminent, Press Secretary Perino says. If a pre-packaged bankruptcy is part of the deal, many will ease a sigh of relief, assuming the odds of long-term success will be improved if legacy costs are shed in a bankruptcy.
EUR/USD is pulling back from session highs after stalling just shy of 1.3785 resistance. We trade now at 1.3735.
