EUR/USD up at 1.3595 from North American close down around 1.3525.
Euro benefitting from expectations of early assistance (won’t call it bail-out as its’ pejorative according to the Irish PM) for Ireland and their banks, as EU and IMF teams arrive in Dublin for talks.
General risk aversion has also waned, with the Shanghai share index stabilizing after it’s sharp swoon this week.
Bank of Korea intervened again in USD/KRW overnight, so we can expect them to turn up buying EUR/USD at some early juncture (if they haven’t been in already.)
Stops have been triggered through 1.3570 and more are now said to lie through 1.3605.
Little in way of euro zone data today:
09:00 GMT: Euro zone current account for September
Some ECB speakers due:
11:30 GMT: ECB’s Mersch speaks at euro finance week
13:30 GMT: ECB’s Trichet, Gonzalez Paramo, Bini Smaghi all speak on policy
European stocks expected to get off to decent start. DAX and CAC 40 both seen up as much as 0.8%. FTSE seen up around. 0.4%.