CD South Africa: It’s all about Greece

Currencies Direct June 22nd 2015 - < 1 minute read

Greece is now hanging by a thread as it is being held afloat only by the ECB. Large capital looks set to depart from Greece as next week’s IMF repayment looms closer. The ECB is now meeting daily to discuss whether or not to keep the assistance going and they could pull the plug if a deal is not reached soon. It is not all bad news as Greece has submitted a new plan that has been welcomed by creditors as a good basis for progress. The data calendar might just have to take a back seat for this week as all eyes will be fixed on Greece. This could be as ugly as Dustin Johnson’s third putt on the 18th to lose the US open!

Commentary by Justin Lodewyk

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Currencies Direct

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