Greek Debt Drama Keeps Euro Rangebound

Tue, 07 Feb 2012 09:39:49 -0500

Spread bets and CFDs on euro

Euro is rangebound right now in spot forex trading as everyone awaits the latest out of Greece. Greek leaders are being pressured to accept austerity measures -- or end up without the billions in bailout funds they need.

If Greece doesn't accept austerity measures, a default is likely, and that could destabilise the entire eurozone. For now, euro is slightly higher, supported as some forex traders find hope for the Greece. However, the longer Greece takes to decide on its course, the less confident the markets are.

Spread betting and contracts for differences on the spot forex market should consider that there is a lot at stake right now. Even if Greece does accept austerity measures, there is a chance, down the road, that the country will leave the eurozone. The euro is in a precarious situation, and forex traders are just waiting to see what happens next.

Spot Forex | GFT Global Markets UK

Greek Debt Drama Keeps Euro Rangebound

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