Another day, another rebound
Today's trading has been a microcosm of the past two weeks. Every dip in the euro finds willing buyers, even when the news shifts closer to a Greek default.
Ryan wrote that a Greek parliament committee has declared Troika debts illegal and said they can't and should not pay. Defaulting to the IMF is something only banana republics do and Greece is just days away with no salvation on the way.
I think the pre-Fed money is heading into USD/JPY trades. Sentiment on the euro is cautious at the moment, even if the newsflow screams to sell. Last at 1.1264. Offers at 1.1285 and 1.1300.
