The Eur/Usd is back above 1.45. The job creation data was positive, however, the worries about the financial sector dominate the market.
The SEC investigation into Merrill Lynch possibly delaying write-downs just shows us that there could be lots of losses waiting to be seen in future quarters.
UBS also downgraded Fortis for lack of transparency about their exposure to the U.S. mortgage markets.
The focus is squarely on the financial sector and the problems they could be facing.
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