Foreign Exchange Markets 2010: Shaw Capital Management
The main feature of the foreign exchange markets over the past month has been the further
sharp fall in the euro.
There has been no real change in the background economic situation in
the euro-zone;...
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Foreign Exchange Markets 2010: Shaw Capital Management
The main feature of the foreign exchange markets over the past month has been the further
sharp fall in the euro.
There has been no real change in the background economic situation in
the euro-zone; but there has been a serious deterioration in the financial background as doubts
have increased about the ability of Greece and some other periphery countries to cope with
their massive fiscal deficits and service their sovereign debts.
Foreign Exchange Markets 2010: Shaw Capital Management Korea: This is clearly leading to a
withdrawal of international funds from the European capital markets, and is dramatically
illustrated in the widening of yield spreads in the bond markets of member countries.
There is
still a general assumption that the stronger members will provide support for the weaker
members if this proves to be necessary to prevent a default on sovereign debts.
But the uncertainties have been increased by conflicting stat
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