Participant

Friday night Tsipras, the Greek prime minister, called for a referendum on whether to accept or reject the creditor’s proposal. Which sums up to; in or out of the Euro currency and with it the EU. Foreseeably the EURUSD dropped to an 8 year low, yet today has made a strong come back, finishing at 1.1148 on London’s close. 4HR chart shows the strong comeback made from the early hours of the morning and all through the day. The feeling I have is that the market has pretty much discounted a Grexit, something that will cause volatility for sure, but ultimately will not break up the Euro currency, Greece out of the Euro means taking out the rotten apple.

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