FXstreet.com (Barcelona) - Brown Brothers Harriman analysts note that for its part, the euro has been largely confined to yesterday's range and this is consistent with the signal coming from the 2-year differential between the US and Germany.

They write, “That spread rose to 17 bp yesterday, the highest US premium since January 9. The driver of the spread is the German leg and today the Germany 2-year is flat. The euro can rise into the $1.3130-50 range without really improving the technical tone.”