The euro fell sharply on further turmoil for Greece and broader euro zone stability, failing to move higher on hawkish commentary from European Central Bank president Jean Claude Trichet and standing at risk of further declines.
The Japanese yen continue to gain ground against most of its major counterparts and the low-yielding currency may appreciate further in the week ahead as market participants scale back their appetite for yields.
The stock market comes to reflect neither the economy nor what stocks are worth. Instead, it shows what speculators think they can make from anticipating Ben Bernanke’s next move.
The daily chart for Bank of America (BAC) captures the anxiety that many fund managers have about the deteriorating appetites of previously robust US consumers.
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