EUR

any default is a default. They all playing with words.

Here comes the top of all:
The U.S. will never default on its treasury bonds, Central Bank of Russia First Deputy Chairman Alexey Ulyukayev told Echo of Moscow radio station today.

It will not happen because it can never happen, he said. All this talk about a possible default creates an atmosphere for U.S. politicians to make the right decision, he added.

U.S. politicians will be able to resolve the current problem of the state debt ceiling, Ulyukayev said calling on investors not to engage in panic selling of U.S. dollars.

Ulyukayev did not rule out a technical default, however. It is possible that a part of obligations will not be met, spreads will widen, some holders of American securities will have to take losses, he surmised. A technical default will not lead to far-reaching consequences and have an immaterial impact on the U.S. dollar/ruble rate.

Gunjack, I think you misread his post in the context of his previous posts re all long posis EU. usdchf hedge or audjpy hedge pretty std practice for him.

See what I mean about Michaels excellent analysis.

michaelhewson Michael Hewson
The lunatics really have taken over the asylum #FOMC
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Echo/Uniform broken that first little resist at 4030, took its time. Now need to see the 4060 ext break for more bullish action.