EUR/USD On Track For Its Narrowest Weekly Range Of 2015 - SocGen
"The Eurogroup isn’t just in the limelight today – they pretty much have the stage to themselves in the absence of major news elsewhere. The vast sums being paid for the rights to broadcast Premiership football have certainly eclipsed all other financial news so far this morning.
Commentators generally seem to believe that the Greek stance in the talks is unworkable so that the risk of outright disaster is still growing, but markets are priced for some kind of stop-gap funding deal for Greece, which allows the ECB to continue financing Greek banks and lets talks continue.
That would sustain the slight risk-friendly mood across markets, and could see EUR/USD drift back up towards 1.15. That said, EUR/USD is currently comfortably on track for its narrowest weekly range of 2015."
Kit Juckes, Societe Generale
