US equities have added to gains on the Geithner comments suggesting the US will pullout all the stops in an effort to avoid a Japanese-style “lost decade”. That sounds great in theory, but in practice, as we’ve seen in the House stimulus bill, these things end up being political grab bags rather than efforts at economic recovery.The S&P is up 1.75% on the day.
1.3087 is the next area of resistance for EUR/USD, the 61.8% retracement of the 1.3324/1.2704 decline. it is consolidating now at 1.3038 after reaching a 1.3056 high.