Amid the discussions of a euro breakup, the single currency is stubbornly strong. Here's how to trade that risk appetite away from the euro zone.
You would think that if people are talking about a currency disappearing, said currency would be on its knees. Well, guess again. Between record short positions that make traders reluctant to sell more, and glimmerings of renewed risk appetite, the euro is hanging tough.
That could change, says Camilla Sutton, chief currency strategist at Scotia Capital, "I suspect we'll get a little disappointed here." Sutton argues that investors, frustrated repeatedly by the failure of European leaders to develop a sustainable rescue plan, are getting impatient. "The ideas keep changing. There's continual flux, and I think the market is very tired of that," she told CNBC's Scott Wapner. "It does start to speak to a lower euro in the very near term as this uncertainty continues to hold."