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Updated Mar 4, 2013 4:10:00 PM
The USD is trading mixed as markets consolidate ahead of key event risks this week. There were no significant economic data releases of note in the NY session today, however there was steady commentary from officials. Euro-area finance ministers met in Brussels and Eurogroup head Dijsselbloem said that the group discussed the euro-area economy, Cyprus and ESM (European Stability Mechanism) direct bank recaps. In the US, Fed Vice Chair Janet Yellen, Minneapolis Fed President Kocherlakota [...] Continue Reading ...
Updated Mar 24, 2013 11:40:36 PM
Cyprus is set to receive a EUR10bln bailout after an agreement was reached between the struggling island nation and the troika and EU ministers. The deal is similar to a proposal put forward by the IMF and Germany last week, whereby the island’s two-largest lenders take the brunt of the pain imposed by the troika. However, it differs from last week’s proposed deal in one key area – the Bank of Cyprus will not be [...] Continue Reading ...
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