Greek economic woes threaten euro
LONDON – Worries over Greece’s fiscal position are having an impact on the euro/dollar trade. The euro’s status as a neutral currency on which to play the negative dollar view is fading.
“The euro has long been seen as the path of least resistance to dollar weakness. Basically if you had a bearish view on the dollar, your default position would be to buy the euro but that is no longer the case,” said Adam Cole, global head of foreign exchange strategy specialising in G-10 at RBC Capital Markets
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