Investors also feared the aid, which an EU source said could total 80 billion to 90 billion euros, may not be enough to backstop Irish banks or stop similar runs on assets in heavily indebted Portugal or Spain. [ID:nLDE68T0MG]
"The question is, 'What's next?'," said Matthew Strauss, an RBC Capital Markets strategist in Toronto. "It's hard to see how Ireland will get the economic growth needed to repay its debts, especially given the political uncertainty it faces. And given Portugal's finances, people wonder, 'Will it be next?'."
Portugal's debt burden is rooted in slow growth and an increasingly uncompetitive economy. [ID:nLDE6AL04W]
Overnight the euro rose as high as $1.3786 but analysts said a cluster of important technical levels between $1.3100 and $1.3350 could pull it into that range in the coming weeks
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