Euro’s Heavy Selloff Continues,
Posted by cvbasheer on January 21, 2010
Euro’s Heavy Selloff Continues, Canadian Dollar Down after CPI
Euro continues trade heavily across on concern of Greece’s deficit. IMF Managing Director Strass-Kahn came out and said that it’s a serious problem even though he doesn’t expect “fragmentation of the Eurozone”. Greek Finance Minister Papaconstantinou said speculation the country would leave the eurozone is “absolutely absurd”. Papaconstantinou said that Greece had no plans to ask for a loan from IMF and reaffirmed the government’s commitment to put its public finances in order. However, Euro has little reaction to Papa Constantinou and extends recent fall against dollar, yen and sterling.