Archive for October 10th, 2011

New Overnight Developments Abroad - Daily Update

German-French Accord to Recapitalize European Banks

October 10, 2011

French President Sarkozy and German Chancellor Merkel on Sunday announced an agreement to ensure sufficient capitalization of European banks. Although few details of the accord were released, markets reflect new appetite for risk.  The dollar fell 2.1% against the Swissie, 1.7% relative to the Aussie dollar, 1.6% against the euro, 1.4% versus the kiwi, 1.1% […] More