Honestly I am very keen to know how much did Trichet spend buying the Irish and Portugal bonds and how is he going to sterilize this amount of money. I doubt that the amount of Euros spend on Friday was small. It basically reduced the spread beyond any normal means used by the Euro central banks authorities. Normally this will be announced and the amount of Euros spend sterilized. I seriously doubt that they will have an easy time sterilizing the Euros spend this time round. Monday is going to be a very interesting time. Lets see if they will continue sterilizing or they will abandon it totally. Rumours on Merkel’s threat to leave the Euros certainly doesn’t help.

Angela Merkel

I am very tempted to short the EUR/USD pair but this pair has been extremely volatile of late. For those not experienced in forex, never even think of trading, it is a big win/big loss game and you need to hedge your bets accordingly and be experienced enough to handle the situation. I am totally against any amateurs going into forex. There is never a 100% sure guarantee win and losses can be tremendous. The last 3 weeks are extreme upheavals in the forex markets seldom experienced at other times. It should be quiet at this time of the year when traders go for holidays, but the Euro crisis and the North/South Korean hostilities brings out the volatility that is extremely interesting.