While losses remained contained, US equities still did not manage to shrug off earlier losses. Asian equities could not do any better either, as investors remained in risk-off mode; major indices in Asia remained in negative territory.
Meanwhile Greek parties were still unable to form a coalition government and the fact that it is the Syriza leader who is currently attempting to form a coalition government does not help investor concerns either. The Syrizas are very much seen as anti-bailout; the leader of the party has set a rejection for international bailouts as a pre-condition for a new coalition government.
Reuters announced that the Spanish Government is expected to unveil plans to help the Spanish banks on Friday.
The Aussie attracted the largest losses this morning, the keeps making fresh 2012 lows, closer to parity, as it slips to lows 1.0052 so far today. The Aussie remained pressured after comments by the treasurer left implied that balanced budget would leave more room for the RBA to cut interest rates.
Amongst the majors the Japanese Yen continues to attract support this morning and is so far the largest gainer. Most of the gains for the Yen come from against the commodity bloc currencies as carry unwind continues despite risks seemed to have consolidated.
has traded in the range of 79.71-79.94 and was so far unable to reclaim 80 levels. The pair's decline should remain contained around 79.52 to possibly correct towards 80.24 - unless 79.33 is breeched.