Euro is lower against its major counterparts today, thanks to a report that indicates that Greece has, once again, failed to offer sufficient structural reforms.
Euro is lower across the board today as Greece becomes the focus for Forex traders and others around the world. There is a report that Greece failed to provide an outline of structural reforms to eurozone officials over the weekend, and that is increasing tensions between the embattled nation and its creditors.
The published report said that eurozone leaders were “disappointed” in Greece’s apparent lack of progress, while Greek officials insisted that the report was false. Greece still has six working days, starting from last Friday, to deliver its outline.
Forex traders and others don’t seem very confident about Greece’s ability to deliver, however. The euro is down pretty much across the board as traders contemplate the possibility of a Greek exit, as well as the possibility that other struggling countries could exit the eurozone rather than institute major reforms.
Greece did make a loan repayment on Friday, but there is doubt over whether the country will be able meet the rest of its obligations.
At 10:49 GMT EUR/USD is down to 1.0527 from the open at 1.0587. EUR/GBP is down to 0.2171 from the open at 1.2576. EUR/JPY is down to 127.0140 from the open at 127.4100.
If you have any questions, comments or opinions regarding the Euro,
feel free to post them using the commentary form below.
Be First to Comment