French Prime Minister Embraces Parity
News wires report French Prime Minister Fillon claim that he only sees good news in the euro moving to parity to the US dollar only adds fuel to the current fire. This seems like malign neglect in contrast to the benign neglect the US is often accused of. The next key level is $1.20. This is not to suggest that the ECB should intervene, rather why add to an already volatile situation. As we have noted the pace of the euro’s decline had appeared to moderate in recent sessions, but this set the cat among the pigeons again.