This is a fairly significant move taking place in the market at the moment with the EUR maintaining its bullish rage, this time mainly against the CHF and the GBP. EUR/JPY has consolidated below 120.00. I think there is more come, especially against the CHF, although as always in steep trends we need to be wary of sharp pull-backs. I will run through the important levels in the crosses later this morning.

Mr Bernanke will speak in an hour and that is certainly the next big risk event.