News Headline Summary

Portugal constitutional court says rejects some austerity measures in 2013 budget

Says:
- Some budget elements unconstitutional.
- Declares article 29 not constitutional.
- Rules article 77 not constitutional.

Reaction details (15:04)

- EUR/USD immediately fell 16 pips from 1.3008 to 1.2992 following this news.

Analysis details (15:07)

- To recap last week the PM said he would resign if the constitution court ruled against the PM's party however he backtracked when accused of pressurizing the courts.

05 Apr 2013 - 15:00 - Forex Economic Commentary - Source: Newswires

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