A fresh leg lower as EUR/USD breaks below support at 1.3930 and extends its losses.

Gold is losing further ground as well, down to $1319; Stocks have dipped into the read, shed a more than 1% rally from early in the day.

Just crossing the wires are comments from Italy’s Berlusconi. He says it will be difficult to reach a global FX deal but that nobody has an interest in a currency war.