Portugal may have the basis for a budget deal but Ireland has yet to work one out. PM Cowen meets with opposition leaders tomorrow night to try and hash out a deal. Cowen has a razor thin majority…
EUR/USD is consolidating losses near 1.3800 after breaking lower on the Chinese interest rate hike. Traders took the Chinese move as a sign of rising risk aversion and rushed to book profits.
French pension protests and a fall in the ZEW sentiment survey are contributing to the correction as well.
