And the Euro Approaches the Maginot Line, aka 1.40 once again

By John Galt
September 5, 2011 – 11:05 ET

As the world burns some more because of the PIIGS, our pigs in D.C., and our piggish banksters, the porkfest has resulted in a week’s worth of alleged stability in the Euro currency being wiped off the books. The market has dropped from 1.44 to 1.40 at a torrid pace which puts the ability of the ECB to support that key exchange level into great doubt and should it fail, set the USD off on a trip to the 86 level on the US Dollar Index (more in tonight’s video).

Here is the current chart fron with a price quote of 1.4078 (-0.0106 or down 0.75%) as of this posting (chart refreshes automatically):




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