EUR review

Euro gains against the pound buoyed it against the greenback. The fundamental backdrop in Europe though grew a little weaker in disappointing manufacturing surveys which should limit gains for the euro. 

Many appear to be betting on Greece to weather its current cash crisis and avert default and an exit from the euro. The situation remains fluid and uncertain so if Greek bailout talks should take a dramatic turn for the worse, the euro's resilience would leave it prey to a steeper fall.