DislikedYes, but there is a reason for the market to open so down, this are not normal trade conditions. Fundamentals are ruling the market right now and the gap down is a strong sign investors are fleeing the EUR.
The rally in the EUR last week, although a needed correction, had a lot to do with hopes the greeks would manage to make a deal and avoid default. Both the head of the IIF and Greek officials spent most week saying a deal was imminent and would come before the weekend. On friday when investors start seeing that a deal would not come the EUR...Ignored
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Mohan
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