Ready for the Greek election this Sunday? Here are the currencies to watch.
Currency investors have been waiting for a second Greek election ever since the May round ended in disarray, and the moment is almost here. When voters go to the polls on Sunday, the outcome could lift some key currencies.
Rebecca Patterson, chief markets strategist for J.P. Morgan Asset Management, Institutional, thinks the results could well be negative for the European Monetary Union.
"I don't think EMU is going away," she told CNBC's Melissa Lee. "But Greece leaving or more turmoil - very possible." And of course, however the election turns out, expect a big reaction in the euro.
If you think the election results will be negative, Patterson suggests keeping an eye on safe havens. "If we have a bad case outcome in Greece or just a lot more uncertainty about Europe more broadly," she says, "you could see gold higher." In addition, she says, "I think the dollar, the yen, and the Swiss franc, despite central bank efforts to fight it, will also benefit."
