Slowly but surely, negotiators seem to be inching toward some kind of fix - at least for now - for the euro debt mess.
Here's how to trade it.
It doesn't always look like it, but the many officials trying to hammer out a solution to the sovereign debt crisis seem to be making some headway. If they do, that ought to give the euro a nice lift - but against what?
Amelia Bourdeau, director of foreign exchange at Westpac Institutional Bank, thinks the best candidate may be the Swiss franc. Sure, it's been a great performer this year. But "with a near term solution for Greece cobbled together, there is less of a need for the Swiss franc to appreciate on safe haven status," she told me.
One caveat: European Central Bank President Jean-Claude Trichet is scheduled to speak on Thursday, and Bourdeau points out that there is a chance he could say something that would derail this particular plan. But if you are confident that he will hint that higher interest rates are coming, and if the Greek debt deal does not come apart, this is an idea for you to consider.
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