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May 2010
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Euro is breaking down…

Euro reached its lowest level against US dollar since April 2009, now trading below 1.30 $/euro. Looks like the market is not happy about the huge costly Greece rescue plan put out by Germany-led EU and IMF.

We are also seeing signs of contagion, to Portugal and Spain…now let’s see if the Euro can hold at 1.25 level.   If not, Euro will have a real problem.


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