EUR: Reaction to EZ FinMin headlines way overdone

By: Sean Lee

The market hadn’t categorically expected any developments from the FinMin meeting but I guess the fact that it went on for so long has the market now expecting bad news. The postponement until Monday is usual EZ fare so I think this sell-off is a bit overdone. Nevertheless, we might be able to buy EUR/USD a bit cheaper in early Europe and the risk-reward for an entry near 1.2700 looks very compelling.