FXMarketAlerts Team
FXMarketAlerts
Published at 06:32 (GMT) 28 May
EUR/USD is enjoying another leg higher, despite some conflicting headlines which will be confusing the fast money out there. ECB's Nowotny is on the wires questioning the period of time ultra low/negative rates should be in situ, but against this we have IMF's Lagarde revealing there are no substantial results in talks with Greece. Yesterday we saw a exaggerated move higher in the single currency as Greek officials spoke of a 'staff-level' drafts of a deal with its lenders, but none of this was confirmed from the 'other side'. Indeed, there were no signs of any concessions from Greece, even though Lagarde also says she has a 'good feeling' that Greece will fulfil its commitments. New highs in EUR/USD posted just shy of 1.0945, fresh from hitting lows just under 1.0820 Wednesday, while EUR/GBP is back above .7100 after getting to within a tick of .7050. There is clear intent on holding the EUR off the lows seen this year, but can anyone really justify this as a deserved recovery?
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