By Marc Chandler, Global Head of Currency Strategy, Brown Brothers Harriman
Here is a Great Graphic from the Financial Times. It captures the weakness in the core, as in Germany, France and the Netherlands. It also underscores the problem Spain faces. Its PMI was below Greece’s. The prospects for such a weak economy can only make its regional and banking problems more acute. Ireland is the strongest, but given the weakness in its major trading partners and the US, the risk seems on the downside.