Why the euro is still a short bet

Markets reacted to the Federal Reserve's European 'rescue' deal may have given the euro a temporary boost, but don't be fooled, says Tim Bennett.

Did the Fed save Europe last week? No. But it certainly grabbed the headlines.

In an attempt to shore up confidence in Europe's banking system and avert a Lehman's-style meltdown at a sovereign level, the US Federal Reserve cut a deal with five fellow central banks. For more details on the mechanics of this, see my latest video: Has the Fed saved Europe?

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Tim graduated with a history degree from Cambridge University in 1989 and, after a year of travelling, joined the financial services firm Ernst and Young in 1990, qualifying as a chartered accountant in 1994.

He then moved into financial markets training, designing and running a variety of courses at graduate level and beyond for a range of organisations including the Securities and Investment Institute and UBS. He joined MoneyWeek in 2007.