EUR Trading Outlook (16-01-2012)
The Euro (EUR) traders sold the Euro across the board as rumors and then a confirmation of downgrades swept the market Friday night. The biggest news was that France had been included and this set the French government into damage control. The big concern is that EFSF will also be downgraded and that Fund managers would have to sell any non AAA assets. To make matters worse news that the Greece debt talks have collapsed over the weekend is sure to add more nervousness to markets Monday. Looking ahead, ECB President Draghi talks.
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