Fxstreet.com (Sydney) - The EUR/USD remained largely unchanged over the weekend to trade at 1.4710. This is after a fall from a high of 1.4719 last Monday. The greenback rallied after massive sell offs on Friday in the US Equity markets. Investors hopped on the dollar in favour of high yield assets. It appears that investors are still concerned about the economy and that without stimulus support, recovery will be difficult.
But reliance on government support is also high on the agenda in Europe. Swedish Finance Minister Anders Borg, said after a meeting of EU finance ministers yesterday that any EU exit strategy would consist of a timely withdrawal from stimulus in order to boost long term investment. In other the words, while the EU agree that withdrawal of expansionary stimulus is necessary, they cannot agree on a timetable.