Noted economic bear Nouriel Roubini says that US home prices will fall an additional 10% despite decent recovery.Worse than that, commercial real estate prices will continue to fall, forcing massive loan losses for the banks, requiring fresh capital to be raised. Any US economic recovery will be most likely U shaped with a 20-25% chance of a double dip, he says.
EUR/USD trades into the low 1.4770s after the fixing as traders needed to buy EUR/USD in the market to meet fixing-related demand.
