EURUSD was able to shake off yesterday’s Moody downgrade of Ireland and the speculation that a German Bank would fail the stress test to rally to 1.3028. The Hungarian decision to halt talks with the IMF/EU remains risk negative but was not able to weigh on the Euro.

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Markets Shake-Off Negative News

A relatively non-descript session overnight with early EUR weakness, on the back of IMF’s dealings with Hungary and a Moody’s downgrade for Ireland (only bringing on par with S&P and one notch above Fitch), soon overcome. Another weak US data print with NAHB housing market index dipping to 14 from

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EUR Shows Its Resilience Despite IMF’s Dealings With Hungary, Ireland Downgrade

A relatively non-descript session overnight with early EUR weakness, on the back of IMF’s dealings with Hungary and a Moody’s downgrade for Ireland (only bringing on par with S&P and one notch above Fitch), soon overcome. Another weak US data print with NAHB housing market index dipping to 14 from

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EUR Shows Its Resilience Despite IMF’s Dealings With Hungary, Ireland Downgrade