Market response to Ireland

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Iron
Posts: 6793
Joined: Fri Dec 11, 2009 10:51 pm

The BBC tells us, in an article published at just before noon today (http://www.bbc.co.uk/news/business-11808577), that:

‘European shares and the euro have both risen slightly in value, as markets gave a muted welcome to the bail-out for the Irish Republic'.

Have a look at the attached FTSE chart (which is in New York time, so you need to add 5 hours). That doesn’t look much like a rise to me...

As for the Euro rising in response to the bailout, the attached EUR/USD chart doesn't resemble a 'welcome', muted or otherwise, IMHO...

J
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