FXStreet (Edinburgh) – Christin Tuxen, Senior Analyst at Danske Bank, recommends shorting the pair on occasional bullish attempts.
Key Quotes
“EUR crosses have in general been remarkably stable in recent days considering the political turmoil in relation to Greece”.
“EUR/USD has fallen below the 1.12 level again but overall it appears that FX markets are sidelined on the single currency with markets waiting for the imminent Greek issue to get out of the way in order to clear the way for policy differences to play out yet again”.
“Indeed, we believe that any rally in EUR/USD on a Greek accord will prove short-lived as this would at the same time open the door for the Fed to hike rates”.
(Market News Provided by FXstreet)