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Bit of gossip from the streets of New York

Written by Sean Lee
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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  • JohnLast 4602 days ago

    Dow Jones News

     By Stephen L. Bernard 
     Of DOW JONES NEWSWIRES 
     

    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)