Analysts at Danske Bank believe a positive outcome in today’s eurogroup meeting could allow a rebound in the pair.
Key Quotes
“Optimism is rising that Greece will reach a deal with its EU partners, and with little else in the calendar, messages from today's Eurogroup meeting should be instrumental in steering EUR/USD; with what we deem is a significant Grexit risk premium already priced in EUR crosses (not least judged from IMM positioning data), risks in the cross are on the upside if the Greek government shows willingness to soften its hard stance on bailout terms.
Key Quotes
“Optimism is rising that Greece will reach a deal with its EU partners, and with little else in the calendar, messages from today's Eurogroup meeting should be instrumental in steering EUR/USD; with what we deem is a significant Grexit risk premium already priced in EUR crosses (not least judged from IMM positioning data), risks in the cross are on the upside if the Greek government shows willingness to soften its hard stance on bailout terms.
