The euro slipped against the US dollar today as talks between Greece and its creditors reached a stalemate and an exit of the indebted country from the eurozone does not look impossible as a result. Yet today’s economic data from Europe was good, allowing the currency to pare losses against other majors, like the Great Britain pound and the Japanese yen.
Greece is running out of money while it needs to repay â¬305 million to the International Monetary Fund by June 5. There are talks that this payment may be bundled with others to be made later this month. Yet there is no confidence among investors that the country will be able to fulfill its obligations, leading to a default, and such prospect is hurting the euro.
Helping the currency, data from the eurozone was mostly on a positive side today. This includes the report about the German Consumer Price Index that showed small inflation in May (0.1 percent on a monthly basis) while analysts had expected no growth of consumer prices.
EUR/USD dipped from 1.0984 to 1.0927 as of 17:35 GMT today, reaching the low of 1.0887 intraday. EUR/JPY traded at about 136.37 after falling from 136.28 to 135.13 earlier. EUR/GBP bounced to 0.7189 following the drop from 0.7177 to 0.7145.
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