Forex Flash: Spanish government unlikely to request support by today’s meeting – BTMU (Barcelona) - According to the BTMU Research Team, “The euro continues to outperform, supported by the narrowing in the euro-zone sovereign credit risk premium in anticipation of ECB sovereign bond purchases.”

Moreover, euro-zone government bond yields for fiscally challenged members declined sharply on Friday following a newswire report citing central bank sources stating that the ECB would buy “heavily” in the secondary bond markets for 1-2 months under the OMT program, then stop for an assessment period.

In other news, tt was stated that Spain was very much fulfilling EU recommendations easing the way to quickly granting external support when requested. “It appears unlikely that the Spanish government will request financial support as early as at today’s Eurogroup meeting.” writes the team.