Fear trade builds momentum

The euro fell to its lowest level in four months as investors reassessed the implications of a Greek withdrawal from the EMU, writes Vincent Killeen.

19th May, 2012
Vincent Killeen, Senior Manager, Institutional Sales Team, Bank of Ireland Global Markets.

The euro fell to its lowest level in four months as investors reassessed the implications of a Greek withdrawal from the EMU.

ECB president Mario Draghi acknowledged for the first time that Greece could leave the monetary union, however, it was the banks' "strong preference" that Greece stays in the 17-nation euro area. The ECB confirmed it is conducting a comprehensive review of all its policy tools and has no immediate plans to increase stimulus...

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