Austrian central bank Ewald Nowotny says the creditworthiness of Austria and its banks is “beyond doubt”. Exposure to CEE is mainly in EU member states. I guess this means he thinks that bailouts from the IMF, Eu et al, will be sufficient to protect the banking sector.
EUR/USD trades close to session highs but so far the rally has been unable to overcome 1.2750. We trade at 1.2733.
