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Greek Deal? Big Deal, Strategist Says

Thursday, 2 Jun 2011 | 10:25 AM ET
M. Lorden | Taxi | Getty Images

If the market overreacts on the plus side to any news of a Greek debt deal, here's how to trade.

"Ultimately it doesn't solve a thing" if Greece simply gets more credit extended, says Andrew Busch, global currency and public policy strategist for BMO Capital.

Greece can't fund itself, so its problems will continue until there is a real solution to its problems, he told CNBC's Melissa Lee.

Rather than trade the euro itself, though, Busch suggests selling the Danish krone, which tends to rally when the euro rallies. Noting that the country has real estate problems and deficit problems, Busch suggests buying the dollar against the krone at 5.175 with a stop at 5.155 and a target of 5.215.

You can watch the discussion in this clip.

Money in Motion: The Trade on Greece
The Greek bailout will not continue to boost the Euro, says Andy Busch, BMO Capital Markets.

MULTI CURRENCIES v The Dollar

CURRENCY FUTURES

Tune In: CNBC's "Money in Motion Currency Trading" airs on Fridays at 5:30pm.

"Money in Motion Currency Trading" repeats on Saturdays at 7pm.

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