EUR/USD back in red below 1.1200 as Greek woes extend

The shared currency gave back previous gains and turned deep in red versus the US dollar in mid-Asia, keeping EUR/USD below 1.1200 levels. The European currency was heavily sold-off as markets once again shifted attention towards Greek debt saga with increased bets of a likely Greek default at the repayment deadline expires today.
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Positioning limiting EUR’s downside in spite of Greece headlines – Westpac

Sean Callow of Westpac notes that EUR/USD price action has not matched Greece news, and the positioning along with caution ahead of the Greece Referendum is limiting the downside for the pair.
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