The euro zone's problems are spilling over to its eastern neighbors, this strategist says.
Say what you will about the euro's ups and downs, but it's been remarkably consistent relative to the S&P 500. Marc Chandler, global head of currency strategy at Brown Brothers Harriman, says the correlation today is just above 80%, "as high as it's ever been."
Chandler recommends selling the euro on a bounce, at about 1.3650, with a stop at 1.38 and a year-end target near 1.30. And he's concerned about other currencies too.