Comments from World Bank hitting the wires. Sees slow recovery in Eastern Europe, Central Asia, contraction hasn’t yet bottomed out but may do later in 2009.
Bank still sees “a lot of downside risks” in Baltics, Latvia not out of difficulties. Apparently when you have currency peg, you don’t have all the kits against crisis.
EUR/USD has taken the comments in stride, presently sitting at 1.3990. Looks like it would take a bomb to shift EUR/USD anywhere meaningful today. Chant along with me “stunned mullet!!!!, stunned mullet!!!!”
