Reuters quotes an unnamed source as saying Eurozone finance ministers have little patience left for Greece and that they are ready to impose sanctions. They are impressed with the Greek finance minister’s readiness for reform but say they believe not all in the Greek government are united for reforms.
EUR/USD has shown no reaction, still changing hands at 1.4375. Looks like we may have a case of Greek-fatigue.
US traders are blaming part of the market weakness today on the Obama bank tax, so weak equities could keep risk trades on the defensive for the remainder of the session.