Reuters interviews the CEO of Raiffeisen, one of the Austrian banks that has been under the microscope this week due to large exposures to central and eastern Europe. The CEO says he does not see a loss this year and that the worst of the Eastern European currency devaluations are behind us.
Earlier today, Goldman Sachs said concerns over Eastern and Central Europe were overblown. That was part of the rational for its buy recommendation in EUR/USD.
EUR/USD is pulling back after a bounce to the 1.2760 area. 1.2655 is next support on dips.
