As the Greek bail-out fails to give the EUR any serious support, Barclays Capital says it is looking for a slide to 1.30. The bank reckons that while there is a lot of risk premium factored into the EUR, the possibility of an imminent debt restructuring and associated contagion is probably not. "For now, we maintain our target for EUR/USD at 1.3000, under the assumption that Greece will pull through the April/May redemption period but that medium-term financing risks will keep the euro weak," the bank says. The pair is now at 1.3317.
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