-Asian bids touted near 1.2430 win out as weak shorts getting squeezed

-Mkt talk of dovish USD think tank reports sees broad USD weakness

-EUR/USD spikes to recent trend highs

-Large offers touted 1.2480/85 cap for now and 1.2500 barrier looms

-Stops touted above 1.2500, if tripped could see further short squeeze