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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
In addition, FXMarketAlerts Team reports that Dutch Finance Minister Jan Kees de Jager says eurozone FinMins have agreed to explore options for involvement of the private sector in a bailout for Greece that include a selective default.
These new developments have put the EUR under further pressure against its major rivals, with EUR/USD now quoted in the 1.0400 price zone after opening Tuesdays session at 1.0430. Paired against the Yen, the Euro is extending its decline after breaking below Mondays low of 112.33, now targeting lows below 112.20, more than 40 pips below its starting price.
For the last 18 months or so, the single currency has been able to weather the euro-zone debt crisis quite well.
Although the currency has come under periodic selling pressure, it has always survived on the assumption European leaders would come to its rescue.
However, the cost for keeping the euro alive has just gone exponential
Ezone banks shorts was excellent bet.
AL as he was dead wrong on QE3 and dollar devaliation now tries to blame "speculation" and rating agency for Euro's demise. Same as MMe clueless Lagarde.
Utter nonsense.
Fact is Ezone has betrayed investors. Ezone should have had a rating agency before or along with introduction the common currency.
..50% retracement of 2011 rally and 200-DMA..
http://www.actionforex.com/images/stories/contributors/admiral/2011071213.gif