FX quick fact update.# Stock
o*l
1 楼
The dollar is weak this morning as markets are reacting favorably to the
news out of the euro zone summit. The summit produced a three pronged plan
that includes 50% haircut on Greek debt, a recapitalization of European
banks, and a bolstering of the European Financial Stability Facility. While
the plan was certainly a more macro view and lacked key details, the markets
liked the direction and thus view the plan as progress as opposed to
posturing. On the heels of this announcement, the euro reached seven week
highs against the dollar, risk appetite has increased slightly, and capital
has flowed back into the markets after spending most of the last week on the
sidelines.
news out of the euro zone summit. The summit produced a three pronged plan
that includes 50% haircut on Greek debt, a recapitalization of European
banks, and a bolstering of the European Financial Stability Facility. While
the plan was certainly a more macro view and lacked key details, the markets
liked the direction and thus view the plan as progress as opposed to
posturing. On the heels of this announcement, the euro reached seven week
highs against the dollar, risk appetite has increased slightly, and capital
has flowed back into the markets after spending most of the last week on the
sidelines.