The Stability Pact applies to everyone, scolds German Chancellor Merkel, even Hungary. The new Hungarian government has pushed back against endless austerity after 4-years of budget cuts, drawing the ire of Europe’s banker-in-chief.
Nothing like a little intramural squabbling to weigh on the Euro.
Traders report buying interest on dips from a European central bank (perhaps for a customer…). The BIS is rumored selling rallies still, perhaps for the SNB.
