BBG: Germany's Finance Minister Wolfgang Schaeuble believes the euro region is prepared to support Greece even without International Monetary Fund participation, Sueddeutsche Zeitung reports, citing an interview. If for any reason IMF decides not to participate, Europeans can envision a separate solution within the European monetary system. In that case, Europeans would have to significantly improve the conditions set. Would have to assign program to ESM and would first have to be approved by Germany's Bundestag.
The run above 1.0650 in EURUSD yesterday found only limited stops yesterday with only a high of 1.0685 printed. Movements in EURUSD and indeed the other majors yesterday showed that fresh USD longs were simply waiting for better levels to come in, and are not in short supply. Tactical USD longs can still be entered at >1.0600 levels, with medium term stops not seen till at >1.1000 levels. Small bids at 1.0600 are not expected to last.