This is likely to displease the Beijing government: A bid from Chinese auto maker BAIC for General Motors Opel is being dismissed out of hand by state officials in the German state of Thuringia. The Finance minister calls the bid “politically not viable”. Hmm, wonder why?
EUR/USD has gone a bit offered. Perhaps these politically incorrect remarks have gotten the markets attention and traders fear some Chinese” retaliation”. It would hurt Germany more to buy the euro than to sell it, though…EUR/USD trades at New York lows of 1.3965. USD