EUR review

The euro rose to one-week peaks above $1.07 against the greenback, a lift brought on by weak U.S. data this week on manufacturing that stopped short of cementing the case for a Fed rate hike. The euro's decidedly bearish backdrop leaves it prey to selling on any rise. 

Meanwhile, lurking close to the surface are daunting euro negatives such as elevated risk of Greece defaulting on its debts and the early success of the ECB's massive bond buying campaign that's dramatically dropped yields across Europe which has done significant damage to the euro's allure.