Slightly steadier picture in Baltics will also be helping euro

Things are looking a little steadier in the Baltics, which will be lending the euro some support. The Lat has seen some improvement this morning, as the market awaits news that the Latvian cabinet has agreed to slash 500 mln lats of public spending in 2009. Confirmation of the cuts is expected to unlock the next tranche of a 7.5 bln euro rescue loan backed by the IMF.