Weekly FX roundup: Greece support package, China currency valuation dominate markets

This week saw a prompt reversal on the recent run of USD weakness. However, overall FX Markets continue to lack conviction and suffer from frivolous "risk on / risk off" sentiment. It was the events in Europe that stole the show. The Eurogroup of 16 Eurozone Finance Ministers convened in Brussels on Monday, and then attended the wider Ecofin group of 27 on Tuesday. Obviously, the issue of Greece and potential solutions was high on their agenda. The media buzz and speculation has been mixed, with a slight lean (perhaps it makes for better news) on a bailout solution being announced.