After a 17 hour marathon, Greece has reached a deal with its European partners. The details of this agreement only to start negotiations do not look promising, and not only because of the horrible humiliation that preceded it. While the threat of a Grexit is currently off the table, the deal could certainly be recessionary.
EUR/USD leaped on the initial news but is now clearly reversing course and falling to support at 1.1050.
Read the rest of the article Greek deal reached – EUR/USD doesn’t buy this “aGreekment”