EUR review

The euro was steady after an overnight bounce to $1.08 once again proved short-lived. Markets appear to be giving Athens the benefit of the doubt that it would ultimately squeak by with a deal to keep the rescue cash flowing. The situation remains fluid and precarious, however, which should keep in place a relatively low ceiling above the euro. 

The euro found a marginal positive in Germany's upgraded outlook for Europe's top economy which it now forecasts to grow 1.8 percent this year compared to a January prediction of 1.5 percent.