Euro Awaits Cyprus & Greece at 1.34

The Chinese New Year and the blizzard in the North East of the US is dampening FX volumes. Euro watchers await the final confirmation on the aid package for Cyprus, and the rising value of the euro when they meet in Brussels today, while Greece may return to the news Eurozone discuss the progress of Greek reforms at their monthly meeting on Monday, which will determine the release of the next bailout tranche of € 2.8 billion. Yet, risk appetite continues to be shown more in equities than in FX as the S&P500 hits the highest since Dec 2007. Today, we updated the Premium Insights in gold, silver and oil. 1 GBPUSD hit all targets while both USDJPY were stopped out. All other EUR, JPY, GBP, CAD and AUD trades made on Feb  remain in effect.