Monday June 29, 2015 - 21:07:35 GMT
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Why Is The EURUSD Up Despite Greece?
The week started out with the EUR gapping lower and selling off following the surprise Greek referendum announcement after markets closed last week. This saw the EURUSD fall to a low at 1.0955 in early Far East trading but then rebounded sharply to a high at 1.1278 in the US afternoon session. This is a huge daily range (2.9%) in a leveraged forex market that squeezed shorts as each successive high was taken out. It also raised the question, why did the EURUSD turn bid despite the Greek news that should have been bearish.
Why Is the EURUSD Higher Despite Greece?
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