U.S. Dollar Momentum Builds as Greek Concerns Linger
Despite the €130 billion bailout agreed upon yesterday for Greece, market participants are questioning the ability of the Greek government to fully implement the necessary measures. Earlier today, Fitch Ratings cut Greece’s long-term ratings to C from CCC, a sign that a default is indeed coming in the next few weeks.
Euro Setting Up For Major Decline, Sterling Poised For Correction
Renewed fears surrounding sovereign debt crisis dragged on risk-taking behavior and the flight to safety may gather pace during the North American trade as European policy makers struggle to restore investor confidence.