Excerpt from: GFT Analysts in the News
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| March 03, 2010 | | Greek cabinet unveils 4.8 bln euro austerity plan | FOREX-Euro rises vs dollar after Greek austerity plans
Trading in the euro/dollar was volatile and markets remained wary over
whether the plan would be enough for Athens to win financial support from
Germany and France.
"We believe today's developments go a long way towards pacifying the markets
which have become preoccupied with fragmentation risk in the region," said Boris
Schlossberg, director of currency research at GFT in New York.
"If the Germans and the French offer support for Greece, the sense of crisis
may lift from the markets and the EUR/USD could see a short covering relief
rally over the next several weeks," he added.
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| Topic Tags: Euro, Greek, us dollar | |
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