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DAILY CURRENCY UPDATE (11JUL14) – DOESTROUBLE WITH PORTUGUESE BANKS CONTAINED FOR NOW?

Published by Uma Rajagopal

Posted on July 12, 2014

1 min read
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Banking Currency markets

Highlight

  • Risk aversion gips the markets
  •  Trouble with Portuguese banks contained for now?
  • GBP to be volatile around 9.30

Key Takeaways

  • Risk aversion grips markets amid concerns over Banco Espírito Santo woes.
  • Trouble with Portuguese banks appears contained, limiting systemic contagion.
  • GBP expected to experience heightened volatility around 9:30 trading session.

References

Frequently Asked Questions

Why are Portuguese banks causing concern?
Concerns stem from troubles at Banco Espírito Santo and its parent, sparking market jitters about contagion risks.
Is the risk spreading across Europe?
No — evidence suggests the issues remain idiosyncratic and contained, with limited broader contagion.
Why will GBP be volatile around 9:30?
Market uncertainty and risk-off sentiment are expected to trigger volatility in the pound during the 9:30 session.

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