Short Forex News - Juergen Stark

Short Forex News. It is said that this day, Central Bank Executive Board member Juergen Stark said eurizone countries will be impacted by high public deficits that could bring further downgraded ratings, followed by a string of rating agency downgrades of Greece over worries about spiralling government debt.

Stark also said that, there were no signs that the ECB's unlimited liquidity actions have brought upside risks to price stability. The single currency briefly bounced fm 1.4071 to around 1.4108 on cross buying in eur/jpy after S&P downgraded JGBs outlook to negative fm stable. Offers are tipped at 1.4110/15, 1.4135/40 n further out at 1.4175/80. On the downside, some stops are located at 1.4050 n 1.4020 but demand fm sovereign names are located at 1.4000/05 with sizeable stops seen below 1.4000.