Author Topic: EUR in retreat yet again as pressure grows on Spain to take a bailout  (Read 7570 times)

Gertrude

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The euro (Currency:EUR) is yet weaker this morning. Not even a strong PMI reading out of China was enough to shift risk-sentiment into positive territory.

The euro dollar exchange rate is 0.52 pct down on Monday's closing level at 1.2436. (For our latest exchange rate forecasts, please visit our IMT site, access is granted Free via this Facebook entrance page).

The euro pound exchange rate is 0.22 pct lower at 0.8106.

According to the Spanish press, the country is now “negotiating with EU nations” to find a way out for its banks without resorting to a bailout.

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« Last Edit: June 05, 2012, 11:45:55 PM by Gertrude »

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AvengersX

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i read that a Spanish bailout is imminent

Offline TheForexKoala

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i read that a Spanish bailout is imminent

You were right on :)

However i feel the rally may be short lived ..  major challenges remain for the euro zone.

Offline TheForexKoala

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What do you think the Greek polls will bring ? :)

AvengersX

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I think we will see turmoil ho ho ho   I AM WAITING :)