On Friday, as the euro sank, we saw spreads between German rates and the rates of the PIGS begin to widen back out, signifying a rise in fear. Those spreads have narrowed back in across the board today as jitters cool after a quiet weekend in Brussels for a change. No summits, press conference or even conference calls this weekend, that we’re aware of…
EUR/USD is bouncing at the moment, up to 1.2380 as jitters settle down some. Sellers are eyed at 1.2400. There are some stops being triggered above 1.2380. More lie around 1.2420.
