Greece and EUR/USD: RBS believes euro bound to fall, even in the event of an agreement with Greece

In a note published today, RBS notes that "the EUR seems to be out of wind, failing to progress further while an agreement on Greece is increasingly becoming likely.

Short positions have significantly reduced and the influence of Greece on the euro seems to be decreasing.

We do not particularly expect upside potential from current levels, whether an agreement is signed or not.

In all cases, we therefore expect a decrease of the EUR."