Deal or No-Deal, Brexit Dooms the Euro

authored by Tom Luongo for Gold, Goats and Guns

Deal or No-Deal, when it comes to Brexit, the euro is toast. Markets, however, believe the fantasy of its survival. As we approach the end of July the euro clings to support at $1.11, mere pips away from a technical breakdown.

That breakdown will trigger a wave of asset liquidation and another round of negative headlines emanating from troubled German banks.

With 10 Downing St. now saying No-Deal is acceptable, the hard line negotiating tactics of the European Union have hit a rocky shore.

Because it looks like Boris Johnson is ready to give as good as he gets.

I’ve been saying this for a long time. The EU is not a tough nut to crack. They have no leverage in these Brexit negotiations.

READ ALL at Gold, Goats n’ Guns

MORE ON BREXIT

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s