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A full-blown risk on day sends the greenback lower against nearly everything. The euro is...

A full-blown risk on day sends the greenback lower against nearly everything. The euro is particularly strong, whipsawing anybody who sold it on Monday as the rising probability of a Greek default became evident. Euro +1.3% at $1.4520.
Comments (2)
  • kmi
    , contributor
    Comments (3984) | Send Message
     
    hmmmm 1.45 seems to be Germany's comfort threshold, I suspect any minute they will start talking about Greek restructuring Irish defaults and leaving the Eurozone.

     

    Seems like at 1.45 they the Euro is too strong to keep the economy chugging along.
    20 Apr 2011, 07:55 AM Reply Like
  • David White
    , contributor
    Comments (4053) | Send Message
     
    There are 3 sovereign debt situations in Europe that are critical. If just one of them blows up, which seems more and more just a matter of time, the entire EU credit system could seize up in much the same way US credit markets did after the Lehman bankruptcy. The Euro seems to be going up now mostly on the tightening talk (and action) from the ECB. It is very hard to tell how long thsi will last??? Perhaps an end to the US' QE2 may signal a major reversal?
    20 Apr 2011, 08:02 AM Reply Like
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