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Commentary Topic from greenfaucet

EUR/USD Suffers on Greece Worries

The EURUSD has remained under pressure on the back of the Greece funding situation. The cost is too high (+310 basis points over comparable German bond yields) and they do not want to go to the IMF but they are not getting anything concrete from the EU.  The EU Trade Balance was better versus a year ago as exports show good strength.  The lower EURO seems to be helping in this respect and the news caused the EURUSD to bounce higher toward upside resistance.