EUR Trading Outlook (20-09-2011)

The Euro (EUR) began the trading week under extreme pressure trading at a fresh 7 month low of 1.3588, following a lack of development from the weekends EcoFin meetings, with reports circulating that disagreements remain high between EU and US policy makers. Further, a teleconference between the &ldquo troika&rdquo and Greek finance minister was held, outlining the need for Greece to meet further austerity measures in order to qualify for 8 billion euro aid package required in three weeks in order to avoid defaulting. In early Asia S&amp P downgrade of Italy from A+ to A, sent the Euro spiraling to 1.3600 from levels above 1.3685 prior to the news. &nbsp

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