Forex News – 23rd November 2011


The crisis is spreading from Greece into Euro zone countries such as Germany, Sweden, France
and Belgium.

It’s been reported (although denied by French officials) that Belgium may not be able to raise
its share for Dexia. The agreement was that Belgium will raise 60.5% of the funds.

It is up to France now whether to increase its share while bearing in mind their AAA rating
may be at risk on such a move.

EURUSD was not affected yet on these news but do note it may have a negative impact on the
currency on any future developments.


The Great British Pound following EURUSD trend, taking a beating from world’s financial events.

The UK’s reeal money printers, De La Rue, stated they are ready to print any new money if
instructed within the next 6 months, suggesting everyone is preapring for the worst.

Key event is the MPC Minutes at 09:30am GMT. The market is thirsty to know whether any MPC
members had considered a rate cut, possibly 25bps.

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