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Euro Rises After Two Sessions of Decline

July 2, 2015 at 22:22 by Vladimir Vyun

A fan of 500-euro billsThe euro rose a little today against its major counterparts following two sessions of losses. Traders wait for the Greek referendum during the weekend that may decide the fate of the country and its place in the eurozone.

The Greek government scheduled a referendum for July 5, asking citizens to vote whether they accept the austerity measures demand by international institutions. Greek Prime Minister Alexis Tsipras calls for the Greeks to vote ‘no’. Meanwhile, European creditors preferred to halt any negotiations about Greece’s debt until the outcome of the voting becomes clear.

Meanwhile, the International Monetary Fund released a report concerning Greece. It looks like to sustain its economy the country needs a big bailout package, a huge debt relief and extension of debt maturity. Such news may put a dumper on any optimism that has left for the indebted nation.

EUR/USD rose from 1.1052 to 1.1083 as of 22:14 GMT today. EUR/GBP advanced from 0.7076 to 0.7101. EUR/JPY ticked up from 136.12 to 136.41,

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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