European equities are expected to open lower Monday as the Greek crisis enters a new phase following the imposition of capital controls to prevent a run on the country's banks.
Greece's place in the euro zone now hangs in the balance following a tumultuous weekend in which last-ditch talks between Greece and its lenders broke down, prompting the European Central Bank to cap emergency funding to the country's banks at current levels.
Gold rose along with other safe assets in the early hours of the Asian session. The EUR fell within Asian trade. Some investors began to reduce their exposure to euro assets. Swiss and Japanese currencies (as usual) expensive in a time of instability.
High Volatility Expected on the financial and stock markets.Greece's exit from the eurozone could set a dangerous precedent for the European currency, with uncertain outcome.
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