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Bank of Ireland Haircut

Following the haircut forced upon bondholders of the Anglo-Irish bank, also  the  Bank of  Ireland  is  announcing  “haircuts” or burden sharing if you wish. Tracy Alloway reports about this development, that isn’t too good for the Euro, even if it’s a smoother razor is used. Read it here.

This is not the first haircut for an Irish bank, and unfortunately not the last. On November 26th, talks about burden sharing of senior debt holders strengthened, but after the deal was cut between the EU / IMF delegation and the Irish government, it became clear again that senior bondholders (contrary to junior ones) were not to be touched by any scissors.

EUR/USD is experiencing choppy trading in a narrow range, now at 1.3238, between 1.32 and 1.3267. For more technical levels and an outlook for the Euro, see the EUR/USD forecast.

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.