Forex: EUR/USD rises further above 1.4300
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EUR/USD
FXstreet.com (Córdoba) - The Euro extended gains and reached fresh daily high against the Dollar. EUR/USD printed a new high at 1.4338 and retreated afterwards to 1.4310; currently trades around 1.4320, a hundred pips above today's opening price. The European currency is recovering on Friday after falling to 3-week lows yesterday.
On a weekly basis the pair is mostly unchanged and trades just a few pips below the price it opened on Monday's Asian session.
The Euro is rising supported by an improvement in market sentiment triggered by a potential agreement of another round of financial aid for Greece.
"A new package will include more EU funds financed via the EFSF - a minimum of EUR30bn, but it could be up to EUR80bn depending on the length of the package. Private investor participation via a Vienna rollover of Greek debt is also on the cards. It remains crucial that the confidence vote on the new Greek government is passed (expected on Sunday or Tuesday). The awaited austerity package will have to be endorsed before we enter July," said analyst at the Danske Bank.
On a weekly basis the pair is mostly unchanged and trades just a few pips below the price it opened on Monday's Asian session.
The Euro is rising supported by an improvement in market sentiment triggered by a potential agreement of another round of financial aid for Greece.
"A new package will include more EU funds financed via the EFSF - a minimum of EUR30bn, but it could be up to EUR80bn depending on the length of the package. Private investor participation via a Vienna rollover of Greek debt is also on the cards. It remains crucial that the confidence vote on the new Greek government is passed (expected on Sunday or Tuesday). The awaited austerity package will have to be endorsed before we enter July," said analyst at the Danske Bank.
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