News Headline Summary

German Bunds have now closed the gap and are trading near unchanged level after opening sharply lower following the statement on Greece by the EU/IMF overnight

Analysis details (11:35)

- EUR/USD failed to break 1.3000 to the upside and since trended lower as market participants question the latest plan by lawmakers to preserve stability in the bloc.
- The main issue that is of concern is the debt buyback, which according to some analysts should be around EUR 0.35 on the euro to achieve a reasonable level of debt relief. Domestic accounts will likely be encouraged to accept lower price, whilst international investors would be offered a more attractive rate.

27 Nov 2012 - 11:34 - Forex - Source: RANsquawk

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