EUR/USD - 1.4428.. Euro staged a brief bounce after marginal fall to 1.4406 after Reuters breaking news quoting German govt. spokesman who said market's rumour of Merkel's resignation is 'without foundation'. Intra-day selloff was due to huge stops being triggered after price penetrated previously indicated sovereign bids at 1.4440/50. Market is still long n many are still looking to bail out - that was why euro only bounced back to 1.4446 after the news n got whacked. Reports of more sovereign bids at 1.4390/00 with stops below there are likely to see range-trading in early Europe.
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