New 2012 lows for Euro
It must be some kind of justice that the Euro is currently trading near the lows for 2012 against the US dollar on the eve of another EU summit. As I write, the Euro has just set a new low for the year, heading below 1.2600 for the first time and setting the lowest rate for the currency since August last year. With continuing disagreement in the Euro about substantive measures to solve the problems in the Euro area, this level of trading can only be indicative of market expectations for the EU summit later today. The more that heads of government talk about keeping Greece inside the Euro...
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