30 Jan 2015
EUR/USD at daily lows amid Greek reports
FXStreet (Córdoba) - EUR/USD came under mild pressure and hit fresh daily lows amid reports that Greek finance minister Varoufakis said the country will cooperate with European Institutions, but not with the Troika.
EUR/USD reaction has been modest, considering Greek bonds slump and 3-year yields above 19% amid comments that Greece is not willing to cooperate with international creditors and it will not seek an extension to its bailout program when it ends on Feb 28.
Speaking alongside Eurogroup Head Jeroen Dijsselbloem at a press conference in Athens, Finance Minister Yanis Varoufakis said Greece will implement reforms to make the economy more competitive but that it would not accept a self-fed crisis of deflation and non-viable debt.
EUR/USD bottomed out at 1.1278 and it is currently trading at 1.1290, down 0.24% on the day but still headed for a weekly gain.
EUR/USD reaction has been modest, considering Greek bonds slump and 3-year yields above 19% amid comments that Greece is not willing to cooperate with international creditors and it will not seek an extension to its bailout program when it ends on Feb 28.
Speaking alongside Eurogroup Head Jeroen Dijsselbloem at a press conference in Athens, Finance Minister Yanis Varoufakis said Greece will implement reforms to make the economy more competitive but that it would not accept a self-fed crisis of deflation and non-viable debt.
EUR/USD bottomed out at 1.1278 and it is currently trading at 1.1290, down 0.24% on the day but still headed for a weekly gain.