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Why did the euro pop and drop after Greece deal?
The euro fell sharply after staging a mini rally on Monday despite Greece reaching a deal over its third bailout, as investors turn their attention to the timing of a U.S. interest rate hike. The volatility, which sent the single currency hitting $1.1196 against the dollar before dropping more than 1 percent to hit hit lows of around $1.10400. The euro was also down over 1 percent against sterling at £0.7106. Analysts said that the brief pop and drop seen by the euro can be explained by the safe haven status that the currency took on during the Greek crisis. It has remained fairly stable as negotiations between the ... (full story)
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