Just looking at the short-term charts trying to get a sense of where we are and I’m already feeling a bit queasy. Two trips to the 1.4780 area played out so far this morning and we are in the midst of another recovery. A mild one, so far.
UK banking woes are at center stage once again with RBS in the spotlight. Comments from Moody’s that the US and UK AAA ratings have weakened relative to those of Germany, Canada and France (who knew there were different flavors of AAA?) have also played a role in upping risk aversion.
Just crossing the wires; Fitch downgrades Greece’s rating to BBB+ and leaves them with a negative outlook.
1.4780 and 1.4755/60 are support. Barriers are rumored at 1.4750.
