Published at 09:46 (GMT) 11 Jan
Fresh gains for the EUR, and right across the board, with the headline spot rate perhaps taking its lead from EUR/GBP, which has now been pushed through .8228, the previous high posted over the liquidity hit Xmas break. However, the latter move now has its due credibility, with markets back to full strength, but we still fundamentally, these levels are unjustified. It is worth pointing out the Euro zone data does not quite have the impact on the EUR that GBP is 'feeling' at the moment, and perhaps this is yet another signal that the single unit is due higher still - no matter what the data/news/event risk. Spot continues to hold off 1.3300, with exotic exposure at the figure level partly to 'blame'.