The euro and pound are wrapping up London trading with a climb to session highs. The euro edged above the 200-day moving average to 1.3647. The ECB’s Costa is on the wires saying they’re not facing a risk of deflation but he’s said that line a few times before. I see the latest move entirely as position squaring ahead of the weekend and there might be some early squaring up ahead of the ECB next Thursday. (full story)