January highs hold

The euro climbed as high as 1.0968 but couldn't take out a series of January highs and faded back to 1.0940.

That's a minor setback for the bulls. The day ahead depends on what happens in stocks but with Amazon missing earnings fairly substantially, that could weigh. On the flipside, Microsoft and Visa beat, so it could balance out.

US GDP will be weak but that might be taken as good news because it will kill any ideas of a March hike.