A risk-on morning as Europe continues to mend. Spanish 10s are down to 5.825 in yield while equities are all on the up (thanks AAPL!).
The US data this morning is unlikely to prompt a breakout from recent ranges. It is more likely to take a dovish slant this afternoon, either from the FOMC statement or Chairman Bernanke’s press conference to push us through 1.3250 barriers.
Near-term support is down at 1.3185, resistance at 1.3210 and 1.3235 on up to 50.