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Euro Mixed as Greece Defers IMF Payment

June 5, 2015 at 11:22 by Miranda Marquit

Euro banknotes rolled upAnnouncements made earlier today indicate that Greece is deferring its IMF payment, due today, until the end of June. The news comes with the backing of Brussels, and the Greek Prime Minister vows not to leave the euro zone.

Euro is lower against the dollar today, but trading higher against some of its other counterparts, following the announcement that Greece will put off one of its IMF payments until the end of June. Amid outcry, members of the European Commission assured the world that there are provisions in the IMF policy for this type of deferment. However, there are some who are concerned that this more of Greece simply kicking the can down the road. Concerns about the financial burdens that the country will have to face after June 30 are weighing in some corners.

Greek Prime Minister Alexis Tsipras insists that his country will not leave the eurozone. Concerns within his own party, Syriza, are growing as Tsipras looks to assuage the fears Greece’s creditors. For now, it appears that nothing new has been decided, and the euro has a little breathing space.

At 11:20 GMT EUR/USD is down to 1.1226 from the open at 1.1238. EUR/GBP is up to 0.7336 from the open at 0.7315. EUR/JPY is up 140.1030 from the open at 139.7640.

If you have any questions, comments or opinions regarding the Euro, feel free to post them using the commentary form below.

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