EUR/USD sits at 1.4295, just above 1.4285 session low.
Supports seen 1.4280 and 1.4250.
Talk of stops through 1.4280 with buy orders noted down at 1.4250/60.
ECB executive board member Juergen Stark in an interview with an Italian newspaper has said “The markets are deluding themselves when they think at a certain point the other member states will put their hands in their wallets to save Greece.” adding “The treaties envisage the non-rescue clause and the rules must be respected.”
Stark adds that Greece has not controlled its public accounts or worked to help improve its competitiveness.
I guess I’m among the deluded. I don’t see the EU letting Greece go to the wall, probably using the IMF as a conduit for support if needed.
