There is always a price for promises you don't keep!
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Is the EUR Now On Life Support?
Without having to live up to his nickname, helicopter Ben, single handily was able to trump the Chinese yesterday. Choosing not to give any guidance about Fed policy has again rocked capital markets. For the latter part of this week they had been happily been pricing in QE3.Policy makers lack of transparency has been able to outweigh the effect of a Chinese surprised rate cut. A cut that many expected to be delivered over this weekend. It is now been considered a preemptive strike for their inflation and sales numbers. The risky asset bounce this week has had more to do with market positioning rater than a turn in ... (full story)