In This Issue..
* Euro moves back over $1.40...
* Norges bank to hold steady...
* Pound moves up...
* Investors move toward high yields...
Good day...And a Wonderful Wednesday to everyone. It is another Great Day at EverBank! I am heading out to Orlando with Kristin later this morning, and still have a lot to get done before I head out the door, so I'll keep this pretty short and sweet.
The Euro moved back above the $1.40 handle overnight after it was announced the EU would back Greece's plans to cut its budget deficit. European Commission President Jose Barroso said the EU is endorsing the Greek program and relayed confidence in the Greek authorities. The move came after the Greek government announced more measures to reduce the shortfall. The EU will demand monthly updates from Greece on its progress in cutting their deficit from the current 12.7% of GDP down to the EU's 3% limit by 2012. The approval of the plan by the EU does not mean the union will be backing Greek debt with loans and does not insure against a default, but only allows Greece to continue to be part of the EU despite their large deficits....