Monday, Mar 09, 2009
Overvalued euro set to plunge ?within months'
Telegraph: Spread betting companies have reported a huge wave of short euro trades in the last two weeks, leading to speculation that a significant correction in the currency will come in the next few months.
Overvalued euro set to plunge ?within months'
Posted by chris @ 12:05 AM (655 views) Add Comment
5 Comments
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1. crunchy said...
The saviour of the pound is finally coming. Team work!
2. p. doff said...
I can't get the link to work. (error 404)
3. crunchy said...
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/4958831/Overvalued-euro-set-to-plunge-within-months.html
try this.
4. uncle tom said...
Hard to know quite which way things are going to go - however, I think politicians in countries like Spain are going to find it increasingly difficult to maintain the line "we can't do anything, we don't control the currency any more"
Spain's economy is imploding in such a dramatic fashion, it seems almost inevitable that there will be an outbreak of civil unrest before the summer is out. Whether that will be on such a scale as to topple the govt is anyone's guess, but the pressure on politicians to act unilaterally in defence of their national interest will be immense.
If the break-up of the eurozone seemed imminent, it is very likely that the euro's value would collapse.
5. Patpatu said...
Yes but, does this mean the short sellers are now at a zenith? ie there are no more punters from this point on to sell the €, or add to their shorts?
Wouldn't that mean the trades entering the market will be mainly the buyers? So the € is due a rally for a few weeks then.