0816 GMT [Dow Jones]--Currency markets took the conclusion of the EU summit "as a good enough excuse" to start rebuilding euro-funded positions and focus on the expected rate differentials with the U.S., according to Nick Lawson a strategist at Deutsche Bank. Yesterday's 1.5% decline in the euro versus the dollar "was similar in magnitude to the last, albeit brief, occasion that Greek affairs appeared to have been resolved," Mr. Lawson said. He also highlighted gains in European stock markets, although characterized them as "less enthusiastic." That said, "inflows have remained robust throughout the negotiation period and most equities had rallied impressively before this weekend," he added. ([email protected])
Contact us in London. +44-20-7842-9464 [email protected]
(END) Dow Jones Newswires
July 14, 2015 04:16 ET (08:16 GMT)
Contact us in London. +44-20-7842-9464 [email protected]
(END) Dow Jones Newswires
July 14, 2015 04:16 ET (08:16 GMT)
