Forget the US Cliff. The currency everyone knows as the single unit, the EUR, has been dealing with it’s own cliff crisis ever since Draghi’s no-rate change ECB press conference yesterday. The market has seen very heavy EUR/USD volumes traded, the most since the beginning of August, the day apparently the summer doldrums began. The EUR’s death spiral was prompted by the ECB’s gloomy economic outlook presented yesterday, and after the Bundesbank cut its German growth forecast for this and next year. Germany is not immune from their member states debt crisis-in fact the country is in danger of sinking into ‘own’ ... (full story)