FX Highlights The USD is trading lower with EUR supported by a Financial Times report that Greece has agreed to a €24bln austerity package in return for a rescue package from the EU/IMF, the IMF says that Greece may need as much as ¥120bln, Greek credit default spreads continue to narrow, EU inflation rises to [...]

CHF has gained 3.5% versus the EUR this year and the EUR/CHF cross is trading at 10 year low. CHF gains versus the EUR are attributed to safe haven demand sparked by the Greek fiscal crisis, improving Swiss domestic growth and last week’s Swiss National Bank (SNB) policy meeting. The Greek fiscal crisis is seen [...]

USD: Higher, sovereign debt risks, spike in risk aversion, Greek bailout doubts JPY: Higher, Tokyo market closed for holiday, safe haven demand versus lower yields EUR: Lower, EU officials divided over need for aid for Greece, EU summit March 25th and 26th GBP: Higher, CBI warns that UK faces a slow and sluggish recovery, gain [...]

The Greek problem just won’t go away! Fridays trading the USD trade stronger as risk aversion seemed to take centre stage due to concerns over the Euro zone’s stance on how it plans to help Greece. Also in the wires we saw concerns by the market over the Fe’s monetary policy stance and how soon [...]

Initial Jobless claims yesterday meets expectations at 462K! Yesterday’s trading saw some range trading across all the majors with no major event risk able to push the pairs out of their recent ranges. Markets tend to consolidate in tight ranges as the participants take some time out reassessing market fundamentals and overall positioning. The main [...]