EUR review

The euro was steady, though with its defensive tone intact. The euro overnight inched closer to its sub $1.05 level that it hit in mid-March, its weakest in a dozen years. 

At the heart of the euro's negative backdrop remain falling yields in the euro area, a byproduct of the ECB's powerful QE stimulus program and elevated unease related to Greece's cash crunch. 

Data today showed a better than expected 1.1% rise in euro zone industrial production in February, the latest sign of recovery gaining steam.