EUR/USD
25 of the 27 EU countries signed the pact over toughened fiscal discipline. Along with Britain the Czech Republic also refused to put its signature. This pact imposes semi –automated sanctions for overspending governments and brings these regulations to the level of national laws. Greek Prime Minister Lucas Papademos claimed that an agreement with private creditors would be reached before the end of the week. Exactly the same pledge had been heard many times before without its further accomplishment then. However, the markets are still able to react to the statements of European politicians. On Monday morning the single currency showed more…