If current moves are all about Irish debt woes and possible contagion, then why over the last 24 hours is the EUR higher against the GBP, flat against the CHF and only slightly lower against the JPY? Sorry I don’t have an answer, just a question this time. If the market was really convincingly bearish on the EUR then it would be lower across the board.
I’m not convinced yet and last time I was also difficult to convince and EUR/USD fell to 1.18- maybe there are still a few sceptics out there who haven’t learnt their lesson yet.
