After failing at the 1.2640 level the EUR/USD has now dipped back below 1.2600 with GBP/USD already off on the threat of a downgrade to Britian’s AAA rating. This is despite European equity markets all opening slightly higher in early morning trading with the Banking sector steadying the ship today.
The FTSE is +11.56 pts, the CAC is +17.64 pts and the DAX is up 19.55 pts.