After a huge Sunday gap and lows of 1.0953, EUR/USD has been making its way back up in the European session. After it shattered the 1.1050 level, the pair continued higher and made it to 1.1123 before slipping back to 1.11.
While it hasn’t closed the gap, the pair is trading on higher ground. Can it continue even higher? Here are the latest developments.
Other developments:
The Swiss National Bank said it has intervened in currency markets and that it doesn’t know what will happen with Greece. Thomas Jordan already said that the SNB intervenes from time to time after he shockingly removed the cap in January, aka SNBomb.
Stock market reaction is different: indices are still well below their values on Friday.
UK PM Cameron says that it is hard to see Greece in the euro-zone if Greece votes No.
So far, no Greek leader stood up to support the Yes campaign.
Banks in Greece are closed, and the banks allow withdrawals of only €60 per day from local bank accounts.
French president Hollande says that there is still room for a deal and promises that the French economy is safe.
He also said that the referendum is related to euro-zone membership.
The letter from Greek PM Alexis Tsipras for leaders to reconsider extending the bailout has been leaked.
