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Forex pairs in this Article » EUR/USD, GBP/USD, USD/JPY (Barcelona) - Most European markets are trading lower on early Monday's session, with investors sentiment hammered by EU finance ministers' failure to reach an agreement to deliver the second bailout to debt troubled Greece.

Eurostoxx 50 Index drops 0.85% and the German DAX Index trades 1.1% lower, while the the French CAC Index rises 0.8%. In the UK, the FTSE falls 0.8% one hour after the opening bell.

Eurozone Finance ministers have delayed their resolution on a EUR12 billion Euro promised for July. An immediate loan aimed to avoid failure in Greece, and buy time to September to approve the whole EUR110 billion rescue package.

EU Finance ministers want to put pressure on George's Papandreu government to pass further austerity measures, while in a extremely weak position, facing strong opposition in the streets, and with the parliament voting a no-confidence motion later this week.

Euro weakens on Greece woes

EUR/USD rose on Friday on rumors about a done deal on the bailout agreement, which pushed the pair about 200 pips higher to 1.4340 highs, and the Euro has given away gains on Monday, as hope turned into frustration, sliding to 1.4190 lows.

GBP/USD retreat from 1.6440 highs last week, found support at 1.6080/90 lows, and the pair has remained trading sideways between there and 1.6200/25 for the last three days.

USD/JPY retreat from 81.00 highs last week found support on Friday at 80.00 psychological support area, and the pair is trading practically flat, between 80.00 and 80.25 on Monday.
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