Nothing causes a euro rout like a little Greek on German crime…The name calling has reached a fever-pitch this morning, helping push the rate decidedly below the 1.3500 level. Key supports at 1.3433 and 1.3444 are in play and defense of 1.3400 barriers will likely slow the decline in the near-term.
Traders report there was a lot of pent up interest waiting to sell and the Greek comments aimed toward Germany seem to have been the spark that light the euro’s fuse.
1.3463 is the EBS low thus far.
