Rumours
the latest rumour in the market
roumour
Bit of gossip from the streets of New York
Written by Sean Lee
November 9, 2011 at 23:33 GMT
November 9, 2011 at 23:33 GMT
Meeting lots of interesting folk here in NY and one well-informed person told me this afternoon that one of the PIIGS central banks is busy, 24/7, printing their old currency notes again (just in case).
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Dow Jones News
NEW YORK -(Dow Jones)- Goldman Sachs introduced a new recommendation Friday to buy euros against the dollar.
Goldman's Thomas Stolper suggests buying the euro with an initial target of $1.40 as European policy makers appear to have made progress in recent days toward reducing near-term uncertainties. Greece naming Lucas Papademos as its new prime minister and Italy moving toward a new government headed by Mario Monti are encouraging signs, Stolper writes in a note.
The euro was at $1.3735 in late morning trading in New York, from $1.3617 late Thursday, according to EBS via CQG.
Goldman has set a narrow stop on the recommendation at $1.35.
-By Stephen L. Bernard, Dow Jones Newswires; 212-416-4528; stephen.bernard@dowjones.com
(END) Dow Jones Newswires
November 11, 2011 11:21 ET (16:21 GMT)