Markets are relatively quiet with FX mixed but most currencies still well within month‐long ranges. EUR is underperforming as uncertainty over Greece looms, with headlines proving some what erratic but into the NA open the suggestion that a German led bloc is willing to let Greece leave the EMU, pushed EUR through 1.13. Today there is limited data (revisions to CPI and Markit PMI) and there are no Fed speakers, leaving markets focused on headline risk over Europe and turning towards next week’s testimony by Chair Yellen. Into the weekend, the risk is position squaring.
Read the full report: FX Daily