The Euro - Going Cliff Diving Again....

The market has been waiting all week to hear what ECB president Trichet would have to say this morning regarding the potential for a Paulson-style monetization of European debt.  The rumor mill was tossing around the potential for a trillion Euro + bailout...

....and this still may be in the cards at a future date, but as for today, no mention whatsoever, and the Euro is getting jack-hammered as a result.




Down over 100 pips in less than 30 minutes....

Not much more to say at this point....