German Chancellor Angela Merkel and French President Nicolas Sarkozy have hammered out a common position on the euro debt crisis.
Gold broke the $1,600 barrier in early trading today as markets awaited further developments in the US and eurozone.
Veteran investor Jim Rogers is long the euro in his portfolio as he expects the eurozone to survive the sovereign debt crisis.
Managers are increasing their bets against the euro and forecasting falls of up to 20% in the single currency, even as the ECB continues to tighten monetary policy.
Standard Life Investments' £8bn Global Absolute Return Strategies (GARS) Fund has initiated new pair trades for the third quarter in expectation of euro weakness, higher Eurozone inflation and resilient commodity prices.
The euro slumped today as eurozone finance ministers postponed Greece's €12bn bailout package until the country implements tougher austerity measures to curb its soaring deficit.
The euro crisis is following a predictable path. The bills have increased greatly, and are being passed around in the hope the problems will go away.
Eurozone inflation fell to a lower-than-expected 2.7% in May.
Sterling has recovered from a seven-week low, moving higher against the dollar after it fell on Moody's threat to downgrade a raft of UK banks.
Dromeus hedge fund manager Jason Manolopoulos argues Greece's ‘odious' debt was incurred by politicians with a self-granted veil of impunity