SaxoTV

Hardy: Why FX markets don’t know what to do with the euro

703 views
June 30, 2015 currencies, currency, currency market, currency trading, ecb, ecb qe, eur, euro, europe, european central bank, eurozone, eurusd, forex market, fx market, fx traders, greece, greece bailout, greece crisis, greece debt crisis, greek, greek bailout, greek crisis, greek referendum, greek talks, greexit, john, john hardy, john hardy forex, john hardy saxo bank, john j hardy, johnhardy, johnjhardy, saxo, saxo bank, saxo bank forex, saxo bank group, saxo bank saxo tv, saxo bank trading, saxo bank trading floor, saxo bank tradingfloor.com, saxo bank tv, saxo capital markets, saxo traders, saxo trading, saxo tv, saxo tv saxo bank, saxo tv trades, saxo tv trading, saxo tv trading floor, saxo tv tradingfloor, saxo tv tradingfloor.com, saxobank, saxobank.com, saxotrader, saxotv, saxowebtrader, trade, trade idea, trade view, trader, traders, trading, trading currencies, trading eurusd, trading floor, trading floor saxo tv, trading forex, trading forex 2015, trading fx, trading platform, trading risks, tradingfloor, tradingfloor saxo bank, tradingfloor saxo tv, tradingfloor.com, tradingfloor.com insights, tradingfloor.com saxo tv, tradingfloorcom, us fed, us federal reserve
The Greek government’s decision to walk out of bailout talks with its creditors, and call a July 5 referendum on the bailout terms, have left FX markets very confused, says Saxo Bank’s John Hardy.

The euro first tanked on Monday, but then spiked to 1.1250 against the dollar, says Hardy.

Markets are trying to anticipate what will happen next, but overall sentiment appears to be marked by fear and a lack of direction, he adds.

But regardless of the outcome of the Greek debacle, the euro will eventually lose out against the dollar, according to Hardy.