EUR/USD is extending gains as the French apparently are not impressed by the Libyan offer of a cease-fire.
Also crossing the wires are comments from Bahrain’s foreign minister that Gulf Cooperation Council troops will not be used to restore order but only to protect strategic assets.
EUR/USD is at session highs, now at 1.4165.
Anything that could impact oil supplies is seen as a EUR positive given the trend of Middle Eastern central banks of diversifying returns.