EUR-USD has remained heavy since logging a two-week low at 1.1120 yesterday. ECB pledges of accelerated or expanded QE this week prompted the correction this week from Friday's three-month high at 1.1466. There also remains a lack of substantive progress between the Greek government and creditors in bailout negotiations, despite all too familiar optimistic sound-bites from various officials. The has dollar recovered more some 15 bp of its yield advantage at the 10-year T-note versus Bund comparison this week, widening above 165 bp.
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