Risk Appetite Surged as on Greece Resolution, Swiss Franc Reversed Risk sentiments had a drastic turnaround last week as Greece has secured the fifth tranche of bailout fund from EU at EUR 12b to avoid and immediate default. The strong rebound in US equities was impressive with DOW and S&P up 5.4% and 5.6% respectively during the week, both posting largest weekly gains since July 2009. Canadian dollar, Australian dollar and New Zealand were the strongest currencies last week in the risk seeking environment and were support by rebound in commodities in general. Meanwhile, safe haven assets suffered. Swiss Franc had a sharp and broad based reversal after making record highs against most major currencies in June. Gold, on the other hand, also tumbled through 1500 level against dollar and was extremely weak against Euro. Euro was the strongest among European majors while dollar was weak except versus yen and swissy. Full Report Here... | 
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