- North Korean President Kim Jong-il dies
- Bank of Korea may have sold around $500 mln to support won – Traders
- S.Korean FinMin: Short-term uncertainty will increase due to N.Korean risk. Confident situation will be handled “without big shock”
- Bundesbank: Still in talks about IMF loan with German govt
- Bundesbank: German economy faces “lean” Winter, sideways growth
- German FinMin: It is not very likely the full German ESM contribution to ESM will be paid in 2012
- ECB’s Noyer: Many complex factors interacting in current crisis
- BOE’s Fisher: UK banks not as robust as BOE would like -Interview with Market News International
- Spain’s PM Rajoy: New Spanish govt will aim to stimulate growth
- S&P raises Mongolia outlook to positive from stable
- Workers of Europe unite, you’ve only euro chains to lose - AEP at The Telegraph
- French Budget Minister: Hoping for rebound in growth
EUR/USD sits effectively unchanged at 1.3010. Asia traded a 1.2980-1.3043 range, and not for one minute did we look likely to break out of that range this morning in Europe. Something of an uncommon occurrence for Europe to see less animated trade than Asia.
European stocks clawed back early losses helping support EUR/USD, but there just wasn’t any followthrough. One inhibiting factor to accelerated single currency gains is no doubt the threat of a French downgrade, which hangs over the market like the sword of Damacles.
Cable touch easier at 1.5480, EUR/GBP up at .8410 from early .8395. Comments made by BOE’S Fisher in an interview with Market News (see above) didn’t help sterling any. Major Swiss player seen selling cable after the comments came out.
USD/JPY unchanged at 77.90. USD/CHF effectively unchanged at .9360.
Ding Dong merrily on high, in heav’n the bells are ringing……
