The Euro has been hit hard across the board following ECB Trichet’s comments in which the central banker made no hints over a potential exit strategy,

Written by Joel Kruger

The Euro has been hit hard across the board following ECB Trichet’s comments in which the central banker made no hints over a potential exit strategy, while also sounding extremely cautious.

MORNING SLICES

FUNDYS

The Euro has been hit hard across the board following ECB Trichet’s comments in which the central banker made no hints over a potential exit strategy, while also sounding extremely cautious. Also seen weighing on the single currency has been the escalating concerns over Greece and the potential default of its loans. Trichet has said that Greece will not get any special treatment. As if that was not enough, rumors of the resignation of German Chancellor Merkel, following the release of a scathing Time magazine article, has added more fuel to the fire of negative Euro sentiment. Meanwhile, in Japan, the latest studies show that economists and consumer both expect the country to remain entrenched in deflation. Elsewhere, the World Bank’s chief economist has been out warning of the potential for a double dip recession, but also expresses optimism over the outlook for the Chinese economy.

----------------------------------------

Traderone : Fundamental issues have the power the turn chart around.