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Forex: Shaking off Greece

When it comes to the single currency and Greece, the one thing to know is that trading Greece on the back of Greek developments is a frustrating road to ruin. Just as Greece hits the headlines once again regarding its ability to pay upcoming obligations, the single currency has continued its move higher, both against the dollar together with sterling and the yen. Merkel and Greek PM Tsipras meet later today to try and iron out a way ahead. At present, EURUSD is within the range seen last Wednesday, but a move above the 1.1043 level would suggest a more lasting correction is in the offing. At present, we’re more consolidating after last week’s volatility.

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