Euro In Safety Zone Again
Bloomberg no longer believes in a euro breakup, if it ever did. The euro gained in comparison to currencies of six top rated nations and “the bonds of Greece, Portugal, Ireland, Spain and Italy — the region’s most indebted-economies– have been the best performers among sovereign debt in that period“. The euro has appreciated 7.1% over the last six months. The currencies of top AAA rated countries like Canada, Australia and Singapore have fallen against the euro by 9.6 % in the past six months.