EU economics czar Almunia says that the hypothesis of a Latvian devaluation is something he does not even want to consider. I hope that is a clunky translation, or he speaks strangely…
I guess if it is something he does not want to even think about, it would be really, really bad for European banks.
EUR/USD has pulled back to the 1.4825 level as gold gives back $10, now at $1058 and oil dips after failing to overcome the $75 level. Look for stops in the 1.4810 area.
