The continued barrage of negative U.S. economic numbers took its toll on the U.S. dollar. For the bears, today's numbers did not disappoint. The NFP showed only 54K jobs were created in May, and March/April jobs were reduced by 39K. The unemployment rate increased to 9.1%, more fodder for the bears. This, combined with positive vibes coming from the meetings with Greece, the EU, IMF and ECB, has given the euro a boost.
Terms of the bail-out, which will make the bankers and technocrats backed by IMF and ECB money ward of Greece, are still being negotiated. In addition to austerity requirements, Greece will be required to sell the government's interest in various property. The goal is to raise 50 billion euros or so to repay outstanding debt. I doubt they will be sellers of the Acropolis. But might they not give the concession stands at the Acropolis to the
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