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29 Jun 2015
EUR/USD expected to be head for May lows on Greece - Scotiabank
FXStreet (Guatemala) - Eric Theoret, CFA, CMT Currency Strategist at Scotiabank explained that the Euro is weak and he eyes May's lows due to the Greek debacle.
Key Quotes:
"EUR has staged an impressive recovery from its near 2.0% decline early in the Asian session."
"The unexpected announcement of a Greek bailout referendum has provided for a gap down in EUR and near term stabilization was observed around 1.1000."
"We expect uncertainty to weigh on EUR over the near term, and look to a potential test of the lows from late May near 1.0820."
"Fundamental data have had no discernible impact on EUR, despite the unexpected improvement in Spain’s CPI."
Key Quotes:
"EUR has staged an impressive recovery from its near 2.0% decline early in the Asian session."
"The unexpected announcement of a Greek bailout referendum has provided for a gap down in EUR and near term stabilization was observed around 1.1000."
"We expect uncertainty to weigh on EUR over the near term, and look to a potential test of the lows from late May near 1.0820."
"Fundamental data have had no discernible impact on EUR, despite the unexpected improvement in Spain’s CPI."