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Euro is dropping, falling from highs not seen for two weeks, as Greek debt talks resume. They’re still working out the details with private bondholders on how to proceed. The euro’s recent rally has been based on the idea of the Greek deal getting done — and continued talks have some Forex traders nervous. Back [...]
Perhaps the euro’s most daunting fundamental hurdles in months has passed. And, as expected, the reaction was naturally bullish. The EU Summit this past week was a lightning rod for the market’s fears of a global financial crisis spreading uncontrollably with Greece and the Europe at the center of the storm. Naturally, some sense of [...]
The European currency declined sharply in holiday-thinned trade on Thursday as renewed risk aversion prompted investors to shed riskier assets. The EUR hovered near the day’s low of $1.4960 down 1.1% on the day. The currency also hit a near 2-month low against the Japanese yen at 129.52 yen. The EUR extended losses as ratings [...]