This article from today’s Frankfurter Allgemeine Zeitung is saying that (if my German translation is accurate) the two main stakeholders in the WestLB are threatening to let the bank go insolvent. Firstly I don’t know if they are in a position to do so, secondly I cannot vouch for the accuracy of the article and thirdly this story has been out in the market for a few hours. Nevertheless, it is Asia and European traders may take a very different view to what Asia has.
Sell a break of 1.4925 with a trailing stop is the way to trade this particular issue I think.
