The euro erased its losses against the dollar on Monday, closing near the highs of the day with speculation suggesting that Greece is near a deal.
What does it all mean for the euro?
Amelia Bourdeau of Westpac tells us that there's still a possibility Greece could default later this same year. "That's what you have to watch out for. Moving forward I see downward pressure on the euro," she says.
Get all the details as well as her currency trade. Watch the video now!
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Trader disclosure: On Sep 19, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Nathan is long Apple (AAPL) through call spreads; Nathan is long Goldman Sachs (GS) through call spreads; Nathan is long Intel (INTC) through put spreads; Nathan is JPMorgan (JPM) through put spreads; Nathan is long Oracle (ORCL) through put spreads; Nathan is Sprint (S); Nathan is long DIA puts; Nathan is XLF puts; Adami owns (AGU); Adami owns (C); Adami owns (GS); Adami owns (INTC); Adami owns (MSFT); Adami owns (NUE); Adami owns (BTU; Finerman and Finerman’s firm own (AAPL); Finerman owns (BAC) and Finerman’s firm own (BAC) leaps; Finerman owns (JPM) and Finerman’s firm owns (JPM) stock and (JPM) leaps; Finerman’s firm owns (IBM); Finerman owns (GOOG); Finerman owns (ORCL); Finerman’s firm owns (MSFT); Finerman owns IWM; Finerman owns MDY; Finerman owns SPY; Terranova is long VRTS; Terranova is long OXY; Terranova is long HOS; Terranova is long OIH; Terranova is long CVI; Terranova is long AXP; Terranova is long EMC; Terranova is long WFM; Terranova is long AMZN; Terranova is long WFC; Terranova is long AAPL; Terranova is long IBM
For Brian Kelly
Funds managed by Shelter Harbor Capital are long Euro
Funds managed by Shelter Harbor Capital are long MON
Funds managed by Shelter Harbor Capital are long MCP
Funds managed by Shelter Harbor Capital are long TLT
Funds managed by Shelter Harbor Capital are short Aussie dollar
Funds managed by Shelter Harbor Capital are short SLV
For Scott Nations
Nations is long SPY
For Tony Wible
Janney Montgomery Scott is a market maker in the securities of NFLX and GME, and may at any time hold a long or short position in these securities. Janney Montgomery Scott may seek compensation for investment banking services from the subject company (ies) NFLX and GME securities in the next 3 months. The research analyst is compensated based on, in part, Janney Montgomery Scott's profitability, which includes its investment banking revenues.
For Amelia Bourdeau
For Gordon Johnson
For Greg Zuckerman
CNBC.com with wires.