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Euro Trades Mixed as More Greek Discussion Gets Under Way

May 9, 2016 at 13:39 by Miranda Marquit

Euro banknotesMore discussions about what to do about Greek debt are getting underway, and that is impacting the euro today. The 19-nation currency is trading mixed today, heading lower against the pound and the dollar, but gaining ground against currencies like the yen.

Once again, Greece is in the spotlight. Eurozone policymakers are meeting to discuss what can be done about Greek debt. Some countries are looking for ways to provide relief to Greece, while some, like Germany, think enough has been done.

Lawmakers in Athens just passed a raft of unpopular reforms for Greece, hoping that the efforts would result in a willingness of other countries to provide debt relief. This is a topic now under discussion amongst finance ministers and others in the eurozone. However, Germany doesn’t think debt relief is needed, as Greece already has some leeway due to a grace period that extends until 2022.

The euro is trading mixed as these developments unfold, heading lower against the dollar and pound while gaining against the yen. Euro has seen some support from positive data recently.

At 13:36 GMT EUR/USD is down to 1.1393 from the open at 1.1402. EUR/GBP is also lower, dropping to 0.7903 from the open at 0.7904. EUR/JPY is up to 123.4430 from the open at 122.0190.

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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