Euro Falls as EU May Stop Short on Aid Package for Greece |
Bloomberg - Feb 10, 2010 |
The euro fell against the dollar after a German government official said the European Union will probably stop short of announcing an aid package for debt- stricken Greece.
The greenback gained against most of its major counterparts after Federal Reserve Chairman Ben S. Bernanke said the central bank may raise the discount rate “before long” as part of the “normalization” of Fed lending. The euro yesterday posted its biggest gain in more than five months as EU officials held out the prospect of aiding Greece if the country made progress repairing its balance sheet.
“No one is particularly convinced that the worst is behind the euro,” said Vassili Serebriakov, a currency strategist at Wells Fargo & Co. in New York. “Even if we get a bailout, it’s probably not the best for the euro because it sends a bad signal to other countries. The market bias is still to sell rallies in the euro.”
Read Full Article from Bloomberg
- Posted: 2010-02-10 11:02:23
More Stock Investor Place Top Stories |
|
|
|
Stock Investor Place Top Stories Archive |
|
|