Azumi: G7 confirmed agreement to counter extreme FX moves
Bank of Canada holds at 1.00%, retains hawkish bias
ISM non-manufacturing index 53.7 vs 53.4 exp
Die Welt: Credit line to Spain via EFSF an option
FT: EU to outline blueprint for banking plan tomorrow
Cyprus eying bailout
US: G7 discussed progress toward European fiscal union
Rajoy: situation in Spain extremely difficult
Italian revenues fall 3.5b euros below expectations
Italy: eurobonds would take 2 years to prepare
Fed's Bullard: Jobs report didn't alter outlook
Canada building permits -5.2% vs -1.5% exp
AUD leads, JPY lags on day
S&P 500 rises 0.6% to 1284
US 10 year note rises 4.5 bp to 1.57%
The market took Azumi's comments at face value and USD/JPY jumped to 78.95 from 78.25 before settling back to 78.77.
The euro dropped overnight on the Spanish admission that it's in a world of trouble but consolidated and rebounded as the gears of action slowly turn in Europe. Last 1.2450.
USD/CAD fell on the BOC decision but support at 1.0360 and corporate orders boosted the pair back to 1.0420 after the European close. Late in the day, as risk appetite improved, the pair drifted lower once again, down to 1.0380.
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