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EUR review

Quotes from RBC Capital Markets:

-EUR/USD has been near 1.1365 for most of the overnight session. Merkel and Hollande are due to hold talks ahead of the main event this afternoon.

-The consensus on the Greek take-it-or-leave-it proposal seems to be that it was vaguely worded, being described as a "Trojan horse" by Schäuble but nonetheless "a starting point for negotiations" by Gabriel.

-It seems unlikely that talks will complete before markets close for the week, but the leaky nature of the conversation will likely provide some headline fodder over the course of today. 1.15 in EUR/USD provides some semblance of resistance topside with 1.11 then fresh air on the downside.

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