Jump to content

Forex Flash: USD stronger on Greece – Wells Fargo


Recommended Posts

Growing concerns towards the Eurozone and Greece political developments are weighing on risk sentiment, triggering the strengthening of the greenback. The leading political party in Greece post-elections failed to form a government, and the second placed party is unwilling to compromise. Repeated failure should push for new elections, perhaps by mid June, according to Wells Fargo analysts.

“The interim period of uncertainty has the potential to weigh on the euro, and more broadly on foreign currencies and global equity markets”, wrote head of currency strategy Nick Bennenbroek.

The Eurozone debt and political crisis should continue the main issue in the comind days. “That said, given subdued overall global data and discouraging European developments, our bias if for U.S. dollar and yen strength, and further weakness in other foreign currencies in the near-term”, Bennebroek added.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...