"Retail sales are up, people are spending money, " said Michael Woolfolk at BNY Mellon.

BBC: US economy grows by 3.2% in first quarter

Michael Woolfolk, managing director at BNY Mellon, agreed that the top issue ahead was how the European leaders choose to resolve the current crisis.

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"We've seen remarkable price action in the last 48 hours, " said Michael Woolfolk, chief currency trader at Bank of New York Mellon, who attempted to put a positive spin on events.

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