Euro Pressured Again by Spain BBVA Rumor, Risk Aversion Coming Back as Stocks Rebound Short-Lived
By admin | May 26, 2010
Euro’s recovery was rather short lived and resumed weakness today on concern of banks in Spain. Rumors circulate in the markets that Banco Bilbao Vizcaya Argentaria SA, Spain’s second-biggest bank, was unable to renew $1b of short-term funding. German five-year notes auction was also poor which drew only EUR 6.5b
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