Archived IMT (2010.02.18)

While the Greek situation remains a fundamental force to maintain EUR shorts, the USD-side of the equation is supported by stabilizing of US data (Philly Fed, Indus production and retail sales). Yesterdays release of the FOMC minutes support expectations that more exit strategy will be detailed and implemented into Spring, while the 9-0 outcome from the Bank of Englands MPC open the door for renewed easing via QE. GBPUSD rebounds still seen back towards 1.5660s before retestiong 1.5530s while the EURUSD path towards $1.32 remains interspaced by limited rebounds.