ForexLive North American wrap: No news is good news

Nikkei: BOJ to maintain economic outlook IIF: Spanish banks undercapitalized Fed's Lockhart: Op Twist extension 'probably' not necessary Chicago Fed natl activity index +0.11 vs -0.44 in March Tsipras: Greek experiment may be exported to other nations Europe accelerates 'cohesion' fund payments to Spain Schaeuble: We want Greece to remain in euro French fin min Moscovici: Fully committed to <3% deficit in 2013 Samaras seeks Democratic Alliance votes, improving election odds Brazil central bank disappointed in global growth China had direct access to Treasury auctions since June 2011 European stocks make gains, S&P 500 up 1.6% to 1316 Chalk the rebound in sentiment up to a) pro-growth comments from Wen b) Hollande talking eurobonds c) New Democracy making inroads in election. Be skeptical because a) c'mon, those buying reason aren't the greatest b) bonds didn't take part c) stocks up after 7 days of selling. EUR/USD wraps up the day at a session high around 1.2810.  After opening at 1.2770, the euro slid to 1.2725 as the US stock market was opening. From there, it was essentially a one-way move higher, accelerating after the Asian high of 1.2813 was breached. Similar story for cable but it has so far been unable to definitively break above the Asian highs, with stops likely above. USD/JPY was an observer, rather than a participant in the action as it closes at 79.31 -- virtually where it started US trading. AUD/USD rallied above 0.9900 after slipping as low as 0.9815 in the early going. USD/CAD slumped but volume was likely low with Canada closed. Overall, the move looks like a straight-forward short squeeze but it could continue.