Intraday Analysis from FXMarketAlerts.com
Receive FREE Weekly Strategies.Published at 23:58 (GMT) 08 Mar
More on Euro, Greece even as Greek PM is in US; WSJ: Greek PM George Papandreou is pushing U.S. officials to investigate speculation in euro currency markets he says is driving up Greek borrowing costs. Ten-year bond offering by Greece on last week had a yield of 6.3%, about twice as much as the German government pays to borrow funds."We will have a very hard time implementing our reform program if the gains from our austerity measures are swallowed up by prohibitive interest rates," Mr. Papandreou said. Mr. Papandreou is scheduled to meet with Pres Barack Obama Tuesday where he plans to push for a revitalization of economic cooperation between the countries. Mr. Papandreou also is scheduled to meet with U.S. Treasury Secretary Timothy Geithner. On FX, EUR/USD back down at 1.3615-20, after hitting highs of 1.3705 on Monday on positive Pres Sarkozy comments after meeting PM Papandreou. Stoploss below 1.36 now. WL
