May 3, 2010

Euro under Pressure; Traders Expect RBA to Hike Rates 25 Basis Points

The Euro remained under pressure on Monday despite an announcement by Greece, the European Union and the International Monetary Fund that a 3-year bailout package has
been reached which will provide as much as $146 billion for the ailing nation.

The bailout agreement which was highly expected failed to restore confidence to the Euro, most likely because speculators still believe the sovereign debt problems in the