DislikedFrom all that I've read, the EUR/USD rate is likely to go to 1.20-1.25 once double dip recession fears kick in and people also realize that Europe will not come up with a real solution to the peripheral nations' problems (debt being only one of them, the euro being the other). This "kicking the can down the road" nonsense is finally losing its luster, and you'll see fewer and fewer days that the markets and EUR rally on headlines like "China may purchase Greek debt".
If you read Dennis Gartman's newsletter, he has been screaming about EUR...Ignored
If you would have observed US Treasury holdings in the last 9 months, you would have observed that actually Russia has sold a substantial part of its holdings while Chinaīs holdings have risen.
China helping Greece? Who is China? Mother Theresa?
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Errare humanum est