BANZAI7 NEWS--Quantitative currency geeks are spending Super Bowl Sunday fine tuning their trading programs to hammer the Greeks and the euro.
The euro is likely to face further declines this week as concern over sovereign debt in Europe prompts investors to seek refuge in the perceived safety of the dollar and the yen.
Pressure on the common currency escalated last week, as worries about the soundness of debt issued by Greece spread to other fiscally stressed euro-zone PIGS, including Portugal, Ireland and Spain. Some commentators are saying that the real problem is the PIGGIES. Portugal, Ireland, Greece, Geeks, Italy, England and Spain.
No comments:
Post a Comment