Published at 13:46 (GMT) 09 Feb

EURUSD

Equities advance, supported by a view that the Greek fiscal situation would somehow be resolved has set the tone for FX. There is little more than hope in the market that Greek fiscal problems would be addressed and supported by some sort of eurozone initiative. Thursday's regularly scheduled EU council meeting, that ECB Trichet was invited to back in Jan and will attend, is seen as the perfect forum to develop some sort of policy statement from. EUR/USD has climbed with equities, but once 1.3770 was breached, profit taking sent prices back toward 1.3750. Movement in USD/JPY has been steadier, but while equities work their way higher, JPY will be vulnerable. M.B.