Euro Rises on Prospect for Greece to Receive Aid Soon

The euro gained today against most other major currencies on the speculation that Greece may accept to perform the budget cuts, which were requested by the European Union from Greece for the nation to receive the $159 billion financial aid.

The outlook for the euro improved on the prospect that Greece will receive the help soon as Jose Barroso, the President of the European Commission, expressed the certainty that Greece will get the aid ”in days”. This has brought some much-needed confidence in the markets and boosted the euro’s strength.

EUR/USD climbed to 1.3291 as of 14:05 GMT from its opening level of 1.3232. EUR/JPY rose to about 125.05 from the opening level of 124.44.

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