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The USD is slipping as the EUR continue to bounce on hopes that the details of Greece's bailout package will be announced over the weekend. Reports that Greece is signing up to a EUR24bn austerity package and assurances from European Commission President Barroso that a deal is close helped sentiment. The immediate focus is now on U.S. 1Q GDP data 1230 GMT. This should confirm that the recovery is on track with the economy expanding by 3.3% annualised. The JPY came under pressure as the BOJ singled further monetary easing even though its inflation forecasts suggest that deflation is coming to an end. The USD is up at Y94.18 while the EUR is up at $1.3297. The GBP is up at $1.5378, helped by opinion polls showing that the Conservatives are taking a more commanding lead ahead of next week's general election. This could reduce fears of a hung parliament.