Italian politics makes Spanish aid request likelier which in part helps to explain why the euro is holding up even though Italian bond yields are surging, says UBS strategist Geoffrey Yu. Monti's decision to resign after the budget is passed doesn't really mean much because it only brings Italy's election forward by 6-8 weeks, Yu says. "[But] also a few people are wondering if it brings the Spaniards in early for an aid request, which helps it even more," Yu says. EUR/USD is at 82.38.
Find us on Google+
No comments:
Post a Comment