Traders run scared from Greek PSI bondholder threats

[Titanic Captain]

Mike Paterson’s daily Forex brief
We’ve seen more US $ buying in the past 24 hours as Greece warns that if Private Sector Investor bondholders don’t accept the terms of the bond swap, the Greek government will invoke Collective Action Clauses, (CAC’s).
They can threaten this simply because the EU-IMF bailout cannot proceed without the bond swap. [...]

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