t’s been a difficult week for the Euro ‘bears’; you get downgraded, receive some suspect economic data and fail to agree on a ‘haircut,’ yet the currency appreciates +150pts from this years lows and in danger of edging even higher. What’s with that? Many analysts seemed to have factored in a record single currency low print somewhere in their trading strategy calculations. Is this attainable? Much depends on key issues such as the Greek PSI and the forthcoming Euro-area summit. The currency remains susceptible to possible near term policy risks in Europe and fiscal tightening. For now, the market remain focused on ... (full story)