Sarkozy says he is not in favor of a weak euro, according to a wire service headline.
That’s a bit of a change of heart for the French president who was anything but shy about talking down the euro when it was near the 1.50 level. Greece’s near-death experience appears to have opened his eyes to the risks of a collapse in currency rates…
This area in the mid-1.30s is pretty neutral territory. Hard to see any of the central banks being upset with present EUR/USD exchange rates…
EUR/USD is ignoring the comments, trading at 1.3655.
