Members login
Forex - EUR/USD, USD INDEX Flows - WSJ: Irish Resist EU Push to Accept a Rescue;US yields up
Written by article default Monday, 15 November 2010 09:51
Euro weighed by Irish concerns. EUR stops hit below 1.3680 to 1.3672-75, more stops below 1.3600 with speculators, hedge funds, macro, Japanese amongst good sellers. USD INDEX up at 78.233, further helped by rise in US Trsy yields, 10-yr up 6bps to 2.813%. WSJ: Europe's debt crisis entered a critical new phase as Ireland resisted pressure from the European Central Bank and national governments to seek a bailout amid growing concern that the currency bloc could unravel. Ireland fiercely denied that it was in bailout talks, and European officials publicly insisted Dublin was under no pressure to seek help.Feeding concerns about the euro, Portugal's foreign minister openly speculated over the weekend that his own country's debt troubles may ultimately trigger its expulsion from the euro zone. On FX, EUR eye break of 1.36 to 6-wk lows 1.3573, USD INDEX eye 79.00.