EUR opened at $1.3260 in Asia after a day of headline watching as the Greek debt deal saga lingers on. Latest reports show that the Greek political parties still disagree on an aspect of the Troika’s pension reform which is required to sanction the 2nd bailout package. Hopes that this will be ironed out ahead of the EU Fin Min meeting today have kept the market steady but cautious. Euro has traded back up to $1.3274 from early lows of $1.3215 as the waiting continues and market also focuses on the ECB rate decision which is expected to leave rates unchanged. USD/JPY recovered from yesterday’s fall to Y76.71, opening at Y77.04 and grinding higher to Y77.23. EUR/JPY traded up from early lows of Y101.85 to Y102.48 mirroring the EUR/USD rise. GBP lagged the euro recovery with a rise to $1.5826 from $1.5793 as EUR/GBP continues yesterday’s recovery from stg0.8330. The cross pushed up from early lows of stg0.8366 to stg0.8390. AUD eased to $1.0740 from early highs of $1.0802 on EUR/AUD buying, before recovering later to $1.0800, as the cross stalled at A$1.2324 and slipped back under A$1.2300.
EasyForexNews Research Team