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Veksler: Expect another week of muted volatility in FX

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EURUSD gapped lower when Asia opened this Monday following the Greek no vote. But that gap has been closing says Ken Veksler from Accumen Management. He says expect more 'muted volatility' this week as the market tries to work out what happens next.

The Eurozone leaders meet on Tuesday and debt relief will be top of the agenda, predicts Veksler. But there are other key events this week including the Reserve Bank of Australia's meeting which is held early Tuesday morning (GMT). It's important because the Aussie reached significant multi-year lows on Friday.

On Wednesday the FOMC minutes are released and watch out for Janet Yellen's speech on Friday, both of which may give more clarity on a future Fed rate hike.

Ken himself is still steering clear of EURUSD at the moment. He explains what crosses he is looking at.