EUR/USD survived the first test of the important 1.3080 support level and is now consolidating losses around 1.3125. Cross flows have been quite heavy this morning with EUR/GBP coming back under pressure.
Banking woes are upping the risk aversion meter to 11 on a scale of 1-10 with reports of Citi spinning off more assets and capital raising needs once again in the news. Germany is in talk to pump more dough into Hypo Real Estate..We just re-run the same headlines each quarter around earnings time…
Again, apologies for the site slowness…
