EUR rises on Greek hope

  • It seems Greek PM Tsipras is willing to give in to some of the demands made by the creditors
  • Greece is facing a “final deadline” this Sunday
  • Failure to reach a deal by then will increase the chance of a Grexit
  • Markets seem to be quite optimistic that a deal will be reached
  • EUR/USD is back above 1.11, but choppy price action is likely to continue as many will look to cover positions ahead of the weekend
  • There is again risk of a larger gap on the Sunday FX open; brokers have already hiked margin requirements for EUR pairs

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