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#1 03-06-2015 09:24:32

Admin & Trader
From: Paris - France
Registered: 21-12-2009
Posts: 2592

EUR: BNP explains which pair would perform best if Greek agreement...

EUR: BNP explains which pair would perform best if Greek agreement is reached

While the market was undeniably optimistic yesterday regarding Greece, BNP analyses the situation today, and ponders how one should position himself on the forex if an agreement between Athens and creditors is reached.

"We expect the ECB to continue to ensure Greek's access to ELA (Emergency Liquidity Assistance), and we expect the country to repay the IMF €300 million Friday. And even if Greece is not able to pay on Friday, the payments due to the IMF for June should be combined later in the month.

Over the next 10 days, we expect this agreement to be reached between Greece and its creditors.

In light of this, it seems better to buy EUR/CHF rather than EUR/USD. We anticipate a EUR/CHF movement to 1.05 (end of April and mid-May highs), then 1.08, which is consistent with our 1.11 end of year forecast.

"Anything worth having is worth going for - all the way." - J.R. Ewing



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