MARKET TALK: Further Gains For EUR/USD May Be Limited -CS

The Greek bailout deal continues to support the EUR, but further gains for the single currency is likely to be limited, says Koji Fukaya, director of fixed income and foreign exchange reserves at Credit Suisse in Tokyo. Investor risk appetite remain firm for now as the Greek talks seem to have wrapped up for the time being, he says; still, "while short-covering is supporting the euro, this much was within expectations," he says, adding that recent signs of an improving U.S. economy may weigh against further a rise for the EUR/USD. He tips the EUR/USD and the EUR/JPY to trade in 1.3150-1.3350 and 105.00-106.50 ranges for the rest of the global day, and in a 1.3050-1.3350 range and 104.00-107.00 band over the coming week. The EUR/USD is at 1.3272 and the EUR/JPY is at 105.85.