Spread betters should short the euro

The euro is riding high on the euphoria from the latest deal to save Greece. But the package comes at quite a price, says Tim Bennett. And it's certainly no time to be bullish on the euro.

The euro hit a three-month high against the Japanese yen earlier today, androse against the dollar too. Why?

Short-term euphoria has greeted news that a Greek crisis has been averted after euro-area finance ministers agreed a second bail-out package. But don't be fooled there is no short-term solution to the Greek problem. And there are precious few reasons to be a euro bull.

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Tim graduated with a history degree from Cambridge University in 1989 and, after a year of travelling, joined the financial services firm Ernst and Young in 1990, qualifying as a chartered accountant in 1994.

He then moved into financial markets training, designing and running a variety of courses at graduate level and beyond for a range of organisations including the Securities and Investment Institute and UBS. He joined MoneyWeek in 2007.