- We cannot step in for govts any more than we can for the private sector
- Euro area is being affected by a crisis that is clearly global in scale
- Govts must boost EFSF with leverage if needed
Trichet’s comments (well at least the headline and the EFSF leverage one) giving the single currency a further little lift and we’re at session high 1.3679.
Barrier option interest at 1.3700 looms.
UPDATE: US investment bank, large hedge fund, CTAs some of the names being bandied about as notable buyers in the latest move higher.
