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ECB Bini Smaghi on newswires

Says anchoring inflation expectations is key to stability.  He adds that ECB decision is based on inflation risk and market stability and says current ratees are adequate.  Finally, he talks of Greeece and comments that their should be no riskof contagion if the measures come fast and says better data and controls can avert crisis.

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The EURUSD is finding a bid as NY enters for the day.  The price bounced off the support area at the 1.3531-39 and the 100 bar MA on the 5 minute chart (currently at the 1.3540 level.