The Traderszone Network

Published in TZ Latest News 5 July, 2015 by The TZ Newswire Staff

Euro slips, bonds rally on Greek upset

The euro fell sharply in Asia on Monday after polls suggested the Greeks had overwhelmingly rejected austerity measures demanded in return for bailout money, putting in doubt its continued place in the single currency. In a typical “risk-off” reaction top-rated sovereign bonds were well bid while U.S. equity futures dropped around 1.4 percent (ESc1). While the price action was choppy, dealers emphasized that markets were orderly with no signs of financial strain and expectations were high that the European Central Bank would step in early with a pledge of extra liquidity.