The European bank stress-test results will provide some degree of Euro support, although the improvement in Euro-zone economic data is likely to be more important in providing near-term backing. Confidence in the US economy will remain more fragile in the short term with the dollar not in a position to secure strong yield support. Nevertheless, there are still very important global risks and there are also still important underlying Euro-zone vulnerabilities which should not be ignored. In this environment, dollar selling should be contained, but the US currency is not in a good position to secure much buying support given the fundamental vulnerabilities. Although the near-term bias is likely to be a serious challenge on the 1.30 resistance zone, the Euro continues to offer poor value above this level given the international risk profile.