EURUSD Opens Sub 1.27 And 11 Year Low Against JPY
After a weekend of dreary headlines, downbeat newspaper articles, and perhaps more realism that the euro-zone's 17-nation glory-fest just won't make it, EURUSD has opened under 1.27. EURJPY is also holding well under 98, printing at 97.38 earlier - its lowest since mid December 2000. It appears that EUR is increasingly replacing JPY as the carry currency of choice.
Could we see parity to the dollar by the end of 2013 ? Does the possible fubaring of Greece lead to a stronger euro or does it merely open up the possibilities for other PIIS countries ( PIIGS minus the G ) to follow the yellow brick road back to their prior currencies ? How long before we hear EU pols braying that there only weeks left to save the euro / eurozone / their EU jobs ? Do we see something break in europ before something else breaks in MENA ? Stay tuned !
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