EUR/USD
The Euro was confined to narrower ranges during Monday as support levels near the 1.36 region against the dollar held while there was resistance above the 1.37 level.
Underlying sentiment towards the Euro-zone economy and Euro certainly remained generally weak as debt fears surrounding Greece and the other peripheral countries persisted. Spanish bonds rallied strongly during the day on a statement of reassurance from the government and this also provided some wider relief to the Euro.
The EU summit, due to be held on Thursday, will be watched very closely and any positive move surrounding a support package for Greece could provide further near-term currency relief. It will be much more difficult...
