EUR/USD - 1.2908.. Breaking news on Reuters, German Banking Group Head Weber told German radio that he is confident that German banks all in all will perform well, he also added he believes European banking system is in a better shape than many issues. More on stress test, according to latest WSJ report, 5 of the 6 Greek banks are seen to have passed the test based on Tier-1 capital ratios. Looks like market is expecting no real shocking results fm the stress test n aggressive buying of the euro is therefore unlikely to be seen in Europe. Initial bids have been seen at 1.2885-75 region n immediate offers (profit-taking) are reported at 1.2915-35 with a mixture of selling interest n stops abv there. German IFO at 08:00GMT may not trigger buying unless the index is stronger than expected (see previous update).
Join the Discussion