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Why the Greek Aid Deal Gets a Yawn
Hey, Greece finally landed another aid deal! You wouldn't know it from the way the euro is trading. Indicators used at Bank of New York Mellon "suggest market participants are not overly enthused by the tentative deal reached between euro area finance ministers and the International Monetary Fund after several rounds of protracted negotiations to ease Greece’s bailout terms," says Samarjit Shankar, a currency strategist there. Shankar notes that even with the finance ministers' agreement, "we are seeing renewed modest net selling of the euro [EUR=X 1.2936 -0.0008 (-0.06%) ] after the outflows in place since the ... (full story)