Monday, July 4, 2011

Euro taking a hit

Right now the Euro is taking a hit in recent trade, sending the dollar higher, which could pressure US markets tomorrow morning, as usual though, a lot can happen overnight.

The red arrow is where the FX EUR/USD par opened this week, in the red box, the recent plunge. The only thing I see is the rating agencies are now flip-flppoing a bit and hinting that the Greek debt rollover plan could trigger a default which has the ECB scratching their collective heads and a little upset.