• The FT is leading with the rioting in Athens; also prominent are Frau Merkel’s appeal for support for Greece and the threat to Portugal’s credit rating. Nothing new here so whilst not positive for the EUR it might be a case of no news is good news. Let’s wait and see
• The UK Telegraph and of course all the UK newspapres are leading with the general election. A hung parliament is still the most likely outcome by my reckoning. The FX market is showing its lack of commitment either way by refusing to trade the cable. That will change later tonight I’m sure. The Prudential takeover of AIG’s Asian business could also be in jeopardy. If it falls through it could lead to a lot of cable buying as there have been hedges placed already according to my information.