If you haven’t seen the movie series the Hangover and in need of a good laugh I suggest renting any of them on Netflix right away. The series is essentially about some buddies that party way too hard during each other’s bachelor parties and wake up the next morning so hungover they have to peace back together what happened to them the night before.
When I was a kid one of the first things my father said I needed to understand about life was that governments lie. I was so young when he first told me this I could not at all understand why a government would lie nor what impact their lying would have on their own citizens and those of other countries. As my career in finance and study of economics and history deepened I realized he was right. It seems to be in the DNA of governments to lie and make promises they cannot possibly keep.
So the Syriza party has won. FX markets are opening back up and as you can see the EURUSD is back under pressure to the downside.
There is nothing surprising about this election nor about the movement of the EURUSD. The Greek tragedy is far from over however. Syriza is going to negotiate hard with the ECB and the EU. I don’t see any scenario where they won’t ultimately leave the EU which would be in their best interest.