EURUSD Coiling As Rumor (ECB) And Counter-Rumor (IMF) Dominate
...EURUSD is just coiling and coiling here - but of the two rumors, t's EUR40bn write-down makes the most sense in a rational world of trying to help Greece (and therefore must be discounted as 100% not what will happen). We can only imagine that the EU tactic is now to throw each strawman to the rumor-mill to see what reaction is generated by the market - so far - #FAIL.
See also last Monday's "How Much Should We Expect the VIX to Move?".