EUR/USD, EUR/JPY Flows - Euro weighed by Eurozone deficits concerns; ratings; ECB (IYMC2001)  

 

More on FT Tett article, could weigh on Euro, on concerns over Eurozone; deficit; bonds. EUR/USD at 1.3640-43, edging back up after dipping on EUR/JPY, Cross/JPY sales on firmer China PPI/ CPI data. Con't FT: Most investors assume this core northern group will support its more profligate colleagues; after all, Germany appears to have offered tacit support to Greece in recent days. However, anger is rising in Germany. And many Finns feel particularly irritated. Nevertheless, the longer countries such as Greece writhe in fiscal pain, the more pertinent that question will become. Perhaps it is time for politician in Athens, Frankfurt or Paris to pay a visit to the board; if nothing else, it would offer a bracing glimpse of an alternative way for the ECB to conduct its affairs. On FX, good to watch any Rating agencies warning on Eurozone members. EUR offers 1.3650-80, bids 1.3600-20, stops blw 1.3590. EUR/JPY dipping to day lows 123.15-20, stops blw 122.90.WL