New hopes for a way for Greece to find the money it needs to keep going — and remain part of the eurozone — are boosting the euro today. The 19-nation currency is near a three-week high against the US dollar, and gaining ground against other major counterparts as well.
Many Forex traders and others are finding hope in the news that Greek Prime Minister Alexis Tsipras has made changes to his negotiating team in an attempt to downplay the involvement of the Finance Minister, Yanis Varoufakis, who doesn’t seem to be making much headway.
Hopes are that with someone else in charge of working with eurozone leaders, Greece will be able to make progress in talks and secure the funding needed to move forward. The result of this move is a higher euro almost across the board.
Also helping the euro against the US dollar is the fact that many Forex traders are uncertain as the Federal Reserve begins a two-day meeting. With recent economic news in the United States, many are unsure that the Fed really is ready to raise rates in the near future.
At 11:18 GMT EUR/USD is up to 1.0936 from the open at 1.0892. EUR/GBP is up to 0.7156 from the open at 0.7148. EUR/JPY is up to 130.0200 from the open at 19.6540.
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