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Flash: Greece returns to spotlight – Westpac

FXstreet.com (New York) - According to the Westpac Strategy Group, “The Greek coalition is in serious difficulty and Greece's Democratic Left, the smallest party in the ruling coalition, will decide tomorrow whether to continue in the government after a row over the closure of state broadcaster ERT.”

The IMF is also clearly very concerned about its lending position to Greece. Cyprus is also making noises about the bank merger that took place in the crises. With the German elections Sep 21, Germany's ability to shift is limited. Next week we have the European Leaders Summit where these issues will clearly come to the fore. “We think markets are underestimating these risks and see EUR pushing down to the lows seen in May.” the group adds.

GBP/JPY establishing fresh intraday lows

The GBP/JPY technical cross has waned during US trading, plunging to session lows Friday and establishing fresh weakness in these moments.
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EUR/USD finds no respite

The EUR/USD slippage has extended through the New York session, with EUR/USD breaking below several support levels to hit a fresh 2-week low.
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