2nd July 2013 - Portugal, Greece sends Euro down; Egypt tensions continue; Fed approves Basel rules

- Portugal, Greece sends Euro 0.6% down 

Today one of my work colleagues put on a trade at 5:something am, EURUSD was at 1.3057, he put a 20bps stop limit (1.3077), it hit 1.3078 (unlucky!), and then it went down past his target price of 1.3000 then slightly up, and then hit 1.2981 (time of writing) (source: Yahoo Finance!)

- Fed approves Basel rules!

Read: http://www.washingtonpost.com/business/economy/the-fed-approves-final-basel-rules/2013/07/02/6c9d6ea2-e313-11e2-80eb-3145e2994a55_story.html

- US DJIA slightly lower, S&P essentially flat

The S&P 500 fell < 1pt; DJIA down 0.29%. Market sold off slightly in the final few hours over tensions in Egypt and concerns over Fed’s Basel decision release.