No one will be carted off on a stretcher for the next couple of afternoons, so I guess we’ll be left to watch the wires.
EUR/USD is trapped in a 1.2470/1.2510 range despite a series of negative headlines for the euro, the most important of which was Merkel’s comment that mutual liability is both politically and economically wrong.
In essence, this means Germany is no rush to assume any more liabilities of heavily indebted EU states, thank you very much…Hopes for deep banking and fiscal union at this weekends EU summit are thus severely diminished.
