By: Jamie Coleman

Bloomberg carries comments from a former PBOC official saying that China doesn't need to save the world and does not have the power to do so. China can participate in Europe's financing activities, provided the debt is guaranteed, WU Xiaoling said is Caixin magazine. Greece's debt was guaranteed (bu Greece) wasn't it? EUR/USD is seeing some profit-taking after failing to overcome 1.3400 despite a very strong open (+3.5%) on Wall Street.