ForexLive North American wrap: Breakout Monday

Cyprus to formally request bailout meetings today Toyota makes an offer for US-based Cascade Corp Fitch: US credit card chargeoffs at lowest since 2007 ECB's Constancio says supervision to focus on large banks Caterpillar cites global growth slowdown Germany unlikely to support another Greek debt haircut or bailout, DJ RTRS: BOJ is leaning toward easing further on Oct 30 No clear signs from Haper on takeovers USD/CAD hits 10-week high USD/JPY hits highest since July EUR/GBP highest since April S&P 500 touches lowest since early Sept but closes flat at 1434 EUR leads, JPY lags The euro was held down early by a 1.3050 option expiry at the NY cut and popped above 1.3080 afterwards, with Greek bailout chatter adding to the move.  Later, as sentiment retreated, EUR/USD fell back below 1.3050, taking out some weak hands. USD/JPY made some headlines but the action was over by the time the US rolled in. Some marginal strength to 79.93 after the M&A headlines but some strong hands are on the offer at 80.00. USD/CAD was remarkably resilient. Market participants seem to be digging in their heels and hoping the Nexen/Petronas deals get approval in the end. Marginal 10-week high at 0.9964 but given the state of the stock market and oil, the rebound to 0.9927 is a shock. BOC is tomorrow and expected to be dovish. AUD/USD found some bids at 1.0290 and caught the late wave of risk appetite in stocks. Last 1.0321.