Good big picture update on Euro trends in this chart. Weaker Euro will be better for her members’ struggling exports. Worse for European people and companies who owe money in foreign currencies and worse for the rest of the world hoping to sell their goods to them.
Source: Cory Venable, CMT, Venable Park Investment Counsel Inc.
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The little conspiracy theorist in me suspects Mr. Global wants to take all major currencies to par so that a new global currency regime would be more politically palatable.
Put currency trades aside, I have to say I admire her character and strength. Given the situation in Europe and the options she has, I can’t imagine the pressure she is under politically or financially. If I were in her position, I would have cracked and looked for an easy way out. Only history(herstory) will tell if she is doing the right thing or not. But, she definitely worth a page in my history book. My 2 cents. JW, Vancouver