Remember when it was a big deal when we reached 35%? Ah, the good old days…
European officials are scrambling to deal with the “when” rather than the “if” Greece will default. The key is that they engineer a “controlled” default that limits contagion (to the extent they can) and keeps Italy and Spain from tipping over in the process.
EUR/USD is in consolidation mode, trading now at 1.3675.
