- Imbalances are a symptom of the crisis
Target2 is the intra-European payments system among central banks. Some observers completely dismiss the imbalances as a worry while others are less sanguine.
Looks like the market is concerned about Target2 so long as the Buba chief is concerned about Target2.
EUR/USD dipped to 1.3299 on the comment. Strong bids are seen in the 1.3280/90 area but stops are building below that level.
