Euro Remains Under Pressure this Morning

by Marilou Moursund on June 9, 2010

in Banks,Credit Crisis,Foreign Markets

The euro is trading at 1.20 this morning, and the next support is 1.15.  The index of European bank credit default swap spreads is within 2 basis points of its high of 210 in March of 2009.  The focus is currently on the Spanish banking system which appears to need an injection of 50 billion euro.  Markets were hit last Friday on news of Hungary’s fiscal problems as well.

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