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Irish Pound Comeback?

Ireland may eventually leave the Euro-zone, abandon the Euro currency. That’s what chief executive in PIMCO, Mohamed A El-Erian thinks. Will the Irish pound, IR £, the currency Ireland had before the Euro,  make  a comeback?

In an interview on CNBC, quoted by the Irish Times,  El-Erian said that bailouts for Portugal and Spain are imminent, and

“Unless we see more than just liquidity support, unless we see something that deals with the balance sheets, expect this contagion to go up,” he said.

Maybe Trichet will indeed resolve the situation by continuing buying bonds, printing euros and pumping liquidity. He gave real hope for a resolution.

For an outlook and technical levels 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.