The summit to end all summits (we were led to believe) will not sort out the final details of the Irish bailout nor the final funding metrics for the ESM (the goal of the summit). Other than that, it will achieve all its goals…
Unreal…
EUR/USD tested session highs near 1.4150 on continue EUR/GBP demand. EUR/GBP is finding sellers in the low 0.8730s after rallying on weak UK retail sales…Stagflation in the UK continues…
Working against the euro is a dip in oil prices from their highs. Brent is down $1 on the day at $114.50.
