• Reuters reported that the EZ is making significant progress in coming up with a plan to tackle ailing banks;
  • EUR/USD consolidated it’s steady gains of recent days and is still targeting trend highs at 1.3830 (see chart). A clean break above there targets 1.40, always important psychologically and a magnet for options market;
  • EUR/GBP regained the .8400 handle but resistance will be very strong between .8465/.8500;
  • EUR/AUD made a fresh bullish drive after the consolidation period above 1.5030 ended.