Euro Vulnerable to Renewed Losses
Renewed worries on the German banking front are keeping European stocks in the red and lending further support to the Japanese currency on reduced risk appetite. Germany ’s IKB drops 20% on worries that will announce further write-downs of as much as 2 billion euros according to Reuters. Euro shrugs the news for now, regaining the 1.4550s but we warn of renewed selling tomorrow at the crucial release of the ZEW sentiment survey, which will reflect responses in the aftermath of the Societe
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