EUR/USD continued advancing and reached a high of 1.1160 – around the close seen on Friday. With this move, the big Sunday gap is closed. In the meantime, we had comments from various European officials. Apart from the own-goal comments from Juncker, we heard a clear message that Sunday’s Greek referendum is basically a decision on a Grexit. German Chancellor Angela Merkel made a joint statement with her coalition partner Sigmar Gabriel. While they tried to avoid influencing the Greferendum (the new buzzword) they did “point the consequences�. Gabriel said that Sunday’s vote is a clear decision about euro-zone membership. Merkel did say that a failure of the euro is a failure of Europe but hinted that Germany is prepared for such an outcome. French president François Hollande also made it clear that the Greferendum is about euro. UK PM David Cameron held a meeting on Greece in order to plan contingency plan. More: ‘A Referendum On EUR': What’s Next For Greece? – Credit Agricole Also Italy’s PM Matteo Renzi made a clear point:

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