The pair is likely to trade in a tight range today before EU finance ministers hold a meeting today to discuss additional financial aid for Greece. Greece’s Prime Minister Antonis Samaras said Friday talks for a Greek debt deal and disbursement of a long-delayed E31.5 billion loan tranche will continue “until the last minute” and at all levels, but added that euro area finance ministers would reach an agreement at their meeting on Monday evening. Investors will also focus on any developments on Spain after S&P said the economic risks for the nation’s banks have increased amid greater credit risk in lending to households, corporations and the public sector. They will also focus on the release Nov. 30 of Japan’s CPI for implications for the monetary policy and the FX market. Core CPI is forecast to have fallen 0.1% in October, marking a sixth straight fall. The rate moved from Y82.06 to Y82.51 on Friday.
EasyForexNews Research Team