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.
