Looks like the algos are running the market up and down without too much rhyme or reason.
EUR/USD is generally firmer on the session, supported by the notion that the IMF will eventually come up with the cash to keep Greece from going bust and that the ECB has won the day regarding private-sector contributions to the bailout. So long as they do not cause a credit event, it is okay with them. Now, the Eurogroup just has to figure out how to make that happen.
Sellers ares seen on rallies to 1.4180/00 while buyers are now at 1.4135 and 1.4115. It’s only gonna get worse tomorrow as dealers look to head to the sidelines ahead of Sunday’s meeting of the Troika.
