Euro Update via the FXWW Chatroom

WP.. Euro – Initial buyers taking us towards the 1.1400-20 sell zone. Plenty of xxx int still within the 1.1250-1.1450 range today seeing 1.1300’s (E2bln), 1.1350-55 (E1.7bln) and 1.1400’s (E1.6bln). Yesterdays standout was Yellen and today attention on Draghi with 16.30 testimony on the ECB annual report to the EU Parliament. Greece nether too far away with several Greeks, noticeably senior politician Manolis Glezos, claim the party has bent too much to European creditors,making it no different from the previous administration. Varoufakis on CNBC suggesting that Syriza was a boisterous family. Even though we are a government of the radical left, we come to the table with a mentality of a bankruptcy lawyer from the city of London who simply says if we have a problem with debt, you need to restructure it.” “We are again going to offer and propose a menu of swaps. The Greek debt comprises many different slices so a swap per slice so as to maximize the net present value for our creditors as well as making possible for us to repay our debts to grow and to end this process,” Varoufakis said. That should be familiar to Draghi.

 

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