Euro May Bounce Back

Euro has maintained its free fall. Lee Eugene Munson, chief investment officer at Portfolio Asset Management, shared his view about the future of the currency with CNBC. Munson told CNBC, “It calls into question what the Germans are thinking.”

He also defended the ban on short selling stating, “Naked short-selling is a wrong thing and when Germany comes out as if this is some sort of great revelation, the sentiment is ‘what else can they come out with, if they can’t understand the basic idea that this should have been banned a long time ago?” He said that the euro is likely to bounce back on account of unwinding of positions by short sellers.