Tuesday, November 16, 2010

EUR: It seems that the euro defies gravity

Despite the debt crisis of the European periphery, have a strong pressure on the euro-zone finance ministers who will meet in Brussels, we can note that the euro does not become weaker. In fact, this morning, he remained near the level at 1.36, helped by a very decent review of the ZEW, which showed that the economic mood of investors remain relatively confident. Earlier in the second quarter when the euro was at gunpoint debt concerns, he was simply the weakest currency among the presenters. However, this time, he hardly underestimated. Ireland remains at the edge of a precipice, Portugal is also increasingly in the spotlight. In the meantime, it seems, the euro is challenging gravity.

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