Like the sun rising in the east, EUR/USD is sold on sovereign debt jitters each and every morning. Do we extend the selling today or do the usual grind higher?
Don’t know…
Greek yield are blowing out again, up an astounding 57 basis points on the day versus German 10s. The Greek 10s now yield 16.53%. Spanish spreads are 11 bp wider ahead of this weekend’s local elections.
Stops are gathering in the 1.4190 area, dealers say. We trade now at 1.4235.
