Euro Recouples with Risk as Banking Concerns Drive Broader Markets

The EUR/USD sunk nearly 200 pips overnight as concerns that European banks are at risk as they hold more potential toxic sovereign debt than reported in the recently performed stress tests. As Europeans rebel against austerity measures aimed at bringing unruly budget deficits under control, the path toward fiscal soundness has become thorny, increasing the potential for defaults.

Read More Euro Recouples with Risk as Banking Concerns Drive Broader Markets

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