16 Jul 2013
Flash: Euro continues to weather Eurozone woes – Investec
FXstreet.com (New York) - Last Friday, Fitch joined the other two major rating Agencies in stripping France of its AAA-rating and Portuguese bonds continue to fall following calls from the opposition party to renegotiate the bailout terms, reiterates Lee McDarby, Corporate Treasury at Investec.
According to McDarby, “Both of these stories highlight the continuing problems in the Euro area although the Euro itself has weathered them without much trouble so far.” Meanwhile, Bernanke’s semi-annual monetary policy testimonies, on Wednesday & Thursday, will shape sentiment in the same way his speech last week went quite some way in calming fears the Fed was heading for an abrupt exit from accommodative policy.
According to McDarby, “Both of these stories highlight the continuing problems in the Euro area although the Euro itself has weathered them without much trouble so far.” Meanwhile, Bernanke’s semi-annual monetary policy testimonies, on Wednesday & Thursday, will shape sentiment in the same way his speech last week went quite some way in calming fears the Fed was heading for an abrupt exit from accommodative policy.