Western Union notes:
Pre-Fed trade found the euro firmer against the dollar though underlying sentiment remained fragile with Greece reportedly no closer to striking a deal for more money which would be its ticket to remain in the euro zone.
Expect the euro to be home to much uncertainty which can subject customer cash flow to sudden, potentially unfavorable, swings. The longer Greece remains a dark cloud over Europe, the less upside the euro should enjoy.
Still, if the Fed should disappoint today and come across more dovish than hawkish, the euro would benefit at the dollar's expense.
