Greece Haircuts - Friday 01-20-12
Greece has to payout in March and there is talk of a deal on haircuts that could be announced today. Nothing is ever certain with Europe nowadays and we are seeing profit taking in the EUR/USD after it peaked out around 1.2990 last night.
Today could turn out to be extremely volatile as all the weight is waiting on a deal for Greece haircuts. Sidelines could be the best option until we have a somewhat clear direction. There seems to be too many questions to how this deal will be structured and if it will be voluntary or forced.