Large moves continue in EUR, GBP and JPY
Greece launches PSI deal, needs more than 75% participation
ECB's Weidmann: no discussion of another LTRO
ECB's Nowotny sees no need for more LTROs
COT: EUR speculative shorts scaled back
Germany softens on firewall
Plosser says MBS buys crosses line
Dudley says govt needs a fiscal plan
Fed's Williams not against further easing
Bullard: Prefers Treasurys to MBS but only if inflation falls
IIF's Dallara expects high take up in PSI
US new homes sales 321K vs 315K exp
Final UMich consumer confidence 75.3 vs 73.0 exp
BOCs Carney: Rates appropriate
IAEA says Iran continues nuclear work
Brent hits $125.55, WTI nearly $110
IMF's Lipton says high oil prices a downside risk
S&P 500 +0.2% to 1366, highest since June 2008
Where to start? EUR shorts and JPY longs were squeezed badly. EUR/USD continued to bust through stops, tracking from 1.34 to 1.3487 in US trading.
USD/JPY touched 81.11 at the end of the session, marking a weekly close above the weekly ichimoku cloud. Offers at 80.65 held off the assault until the European close but afterwards it was all to the upside.
EUR/JPY hit 109 after starting the day at 107 and it was almost a straight-line move.
Large position unwinds in EUR/AUD spilled over to AUD/USD and held the pair under 1.07. Flows were a major theme as yen and euro crosses triggered moves elsewhere.
Gold was quiet but oil gained for the seventh day, falling just short $110 in another one way move.
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