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Thursday, 22 Apr 2010
Iceland's Volcanic Eruption Disrupts Euro-Zone
Estimates are being given now about the damage inflicted on the transportation sector of the European economy due to the Icelandic eruption. A figure near $1.7 billion is on the conservative end of the estimated loss, most of which has been suffered by the European regional airlines, which seem to have been hit harder than some of the larger companies from other parts of the world.
As a result of this debacle, the EUR has taken a dive against all of its counterparts, and the USD and JPY are on the rise from increased risk aversion. Today, however, we do have a wide spattering of news events from all over the globe which should help kick start the rebounds for this past week's price movements.
