Really pertinent reminder form Jamie Coleman at ForexLive: The ECB is holding a big meeting tomorrow, and there will be a lot of folks watching closely to see if Jean-Claude Trichet confirms plans to buy more PIIGS debt.
The assumption is that a move in that direction is spurring today’s mega-rally.
If Trichet remains intransigent or hesitent to really bring out the bazooka, a lot of the optimism could fade just like that?
Pay close attention tomorrow.
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