The hold-out Slovaks have signed the European Financial Stability Facility agreement, clearing the way for the ESFS to go into business. The idea is for the ESFS to act as a backstop, so hopefully European governments will not have to tap the facility…
EUR/USD has reverted to the topside after a brief dip. 1.2894 is the high so far. If demand surfaces at the 15:00 GMT fixing (I’d wager it will), a move through 1.2900 could unfold.