• Euro Eyes 1.3100 Ahead Of EU Meeting, Sterling Finds Resistance

    The EUR/USD rallied to an overnight high of1.3031 as finance ministers across the euro-area increased their pledge to address the sovereign debt crisis, but the renewed efforts to stem the risk for contagion may be too little too late as the fundamental outlook for the region turns increasingly bleak. Indeed, market participants anticipate the EU to draw up a long-term solution to balance the ballooning deficit across the monetary union, while there've been reports that Greece has reached a t...