Forex Flash: Definitive deal on Greek aid early next week - Bank of Tokyo-Mitsubishi

FXstreet.com (Barcelona) - After 11-hour meeting past Tuesday failing to reach an agreement over next aid tranche for Greece, the Eurogroup is expected “to come to a final agreement upon Greece early next week which will likely result in a compromise solution whereby EUR10 billion of EFSF funds are loaned to Greece in order to buyback its debt from the private sector,” The Bank of Tokyo-Mitsubishi UFJ said in a note to clients early Friday.

“The compromise solution appears another 'kick the can' further down the road solution with debt still seemingly on an unsustainable trajectory,” the bank warns, not meaning this will be the end of Eurozone woes, pointing for a neutral bias on a 1.2650-1.2950 trading range for the immediate term.

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