April 21, 2010

Euro Outlook Bleak without Financial Plan

Selling pressure continued to drive the Euro down on Wednesday. The outlook for the Euro remains bearish despite on-going meetings between Greek officials and the IMF to
find a solution to the growing sovereign debt problem.

The EUR USD was down all day in the New York trading session after trading lower overnight. Another indication of lower prices to come was the widening of the Greek
10-year Bond/German Bund Spread to 500 …