Euro having a tough old time of it

EUR/USD down at 1.3370 from a North American close Tuesday up around 1.3440.

Greece concerns to the fore. Greek/German 10 year government bond spread up over 500 bps.

Greece’s talks with EU/IMF delegation to last 2 weeks and a joint text will be out before May 15 deadline. Meanwhile Greek Finance Minister has had to come out and quosh rumour of a Greek debt restructuring, labelling it “nonsense.”

Elsewhere Greek unions stepping up protests, calling for withdrawal of austerity measures. Strike on Thursday is to shut schools, while striking dockworkers have been blockading passenger boats. Oh dear.

Talk of Asian sovereign bid interest lined up down at 1.3350. More sell stops seen just below there and again through 1.3330.