Holy smokes, euro is just going thru support like it's butter. It just lost 100 pips in 1 hour! I'm feeling like a crash is coming and will look to buying up the Yen hand over fist.
This sure looks like a "The ECB is not getting it" slide. It's great to see Trichet & Weber getting their pompous aristocrat European asses kicked like that. Beautiful.
They got hell to pay. For the longest time, they thought the EU is made up of Germany and France alone. A lesson learned by these guys. Looking more like Bernanke is a genius at this point. Inflation down and we don't even have to raise rates.
I suppose a little bit after the Asian Financial Crisis where their currencies crashed, we just might see that with the Euro / Sterling.
IMO the jury is still out on Bernanke as this will take years to play out. We will know in hindsight only. But I guess the market is waking up to the reality that Dr. Trichet and Prof. Dr. Weber are the real academics here, not Bernanke.