EUR/AUD us surging late in Europe after the RBA rate cut overnight. Also helping the euro is the notion that it won’t be long until Spain comes to the EU to ask for a bailout. The move won’t come this weekend, Rajoy said earlier today, but it could come sooner than the Oct 21 elections in Rajoy’s home region.
Significant selling interest is seen in the 1.2980/00 area in EUR/USD, traders report.
UPDATE: Spain’s Rajoy says a bailout request is not imminent.