Greece and its debt problems continue to have an adverse effect on the euro even after the indebted country fulfilled its obligation to repay the loan to the International Monetary Fund on Thursday. The shared 19-nation currency fell in spite of the news.
Greece made a repayment of â¬450 million loan to the IMF yesterday. Still, IMF chief Christine Lagarde did not provide in her interview with CNBC a definite answer to the question if Greece will be able to make another repayment next month.
Greece is not the only negative factor contributing to the euro’s weakness. Concerns about the economic wellbeing of the eurozone played their part as well.
All in all, fundamentals look rather bleak for the euro, making it no surprise that the currency underperforms.
EUR/USD traded at 1.0674 as of 00:35 GMT today after falling from 1.0780 to 1.0658 yesterday. EUR/JPY declined from 129.49 to 128.57 during the previous trading session and traded near that level at the current session. EUR/GBP managed to erase yesterday’s losses, rising from 0.7243 to 0.7252 today.
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