Teflon Coated Euro

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Once again, the EUR continues to defy expectations and claws back ground against both GBP and USD. The debt problems in the zone are not going away, but it would seem that the markets are reacting to ‘data of the moment’, rather than paying much attention to the elephant in the room. There is fair opinion that debt contagion will bite chunks out of the EUR further down the line, but for now the currency is more than holding its own.

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Teflon Coated Euro

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