German Chancellor Merkel's Comment Triggers Euro Sell Off

Filed under: Major Movement, International Markets, From the Boards, Financial Crisis, Currency

In Europe, German Chancellor Merkel stated that the euro is facing "An extraordinarily serious situation" in the wake of Ireland's debt problems, as quoted in the Wall Street Journal.



Her words sparked a sharp sell off in the euro. It traded at $1.34, down from $1.3624 on Monday. Analyst Ian Stannard with BNP Paribas in London said: "This is likely to be the start of a bigger move lower for the euro."

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German Chancellor Merkel's Comment Triggers Euro Sell Off originally appeared on BloggingStocks on Tue, 23 Nov 2010 16:00:00 EST. Please see our terms for use of feeds.

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