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February 5, 2012 2:12 AM EST
A Vicious Circle

After last week’s Fitch downgrade of Spain’s sovereign debt, Europe reacted with significant red arrows to start the week. The Euro made a fresh 4-year low versus the Dollar in overseas trading after the European Central Bank said that Euro-zone banks could face up to $240 billion in write-downs this year and next. That pushed the Euro below the prior three week’s intraday low at 1.2144. Our market bounce last week was helped by the Euro holdi... full story >>


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