ForexLive North American Wrap: King Sinks Pound

BOE's King: More stimulus ready if needed Draghi says darkest clouds have subsided Richmond Fed -12 vs +5 exp US Dec existing home sales 4.94m vs 5.10m exp Canadian retail sales ex autos -0.3% vs +0.1% exp Germany's Meister says Japan threatens FX war Spain sells 10-year bond, foreigners snap up 60% Obama blesses debt ceiling hike ECB's Asmussen says FX not a policy target for ECB S&P 500 up 0.4% to 1492 JPY leads, USD lags The euro was quiet in the early part of trading as bids above 1.3300 held it in a tight range. The soft US data sparked a break of 1.3300 down to 1.3278 but not seriously threatening the European low of 1.3267. Risk appetite improved later and Draghi's comments were a dud. Last at 1.3318. The comments from King knocked cable to 1.5820 from 1.5870 but it remained above a double-bottom on the short term chart at 1.5806. Whippy day for gold but it ended with another failed test of $1700, Last $1691.