The short view(20150623)

http://www.ft.com/intl/cms/s/0/32be5eb4-18f7-11e5-a130-2e7db721f996.html#axzz3dt2f99dj

By James Mackintosh

The euro itself hid behind the blackboard : at the end of the trading day in Europe, it was barely changed, having mostly ignored the kerfuffle in other asset classes.
This might be because investors are conflicted about whether good news on Greece is good or bad news for the currency.

One purely technical reason is because negative interest rates in the region have led to euro loans being used to fund leveraged bets elsewhere.

When bad news prompts traders to reduce the risks they are running, covering those loans means buying euros, pushing up the currency. Equally, good news means they can borrow more euros to take overseas, pushing down euro.