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Currency war moves to Europe
With the ECB and Bank of England meeting this week, European central banks will be under increasingly strong political pressure to counter currency gains. Although the ECB will fiercely exert its independence, the bank is likely to either cut the repo rate or, at a minimum, keep a cut firmly on the agenda at this week’s meeting. This would help combat any Euro advance and lessen the threat of inflamed political tensions within peripheral economies. Although the prime Euro-zone focus has been on peripheral economies devaluing internally to improve competitiveness, external conditions will also be extremely important ... (full story)
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"The market can remain irrational longer than you can remain solvent"
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