EUR/USD touch easier at 1.3822.
- Expects to review its Ireland rating again by April
- By April will be able to assess impact of additional bank capital injections on Irish debt
- Expects Ireland’s debt rating debt rating to remain in investment grade category
- Emergence of European debt restructuring framework could make it reconsider Ireland’s creditworthiness
For some reason when I saw the downgrade, the battle between King Arthur and the Black Knight in Monty Python’s Holy Grail flashed into my mind.
I guess Ireland is playing the part of the Black Knight. Weird
We’re down now at 1.3805. Earlier heard talk of stops through 1.3790.
Right, I’ll get back to doing my wrap. Every bloody time I start to do it something kicks off. Does my head in.