FXStreet (Edinburgh) – The single currency is closing its third week with gains vs. the greenback, easing some ground on Friday after taking EUR/USD to fresh 1-month tops around 1.1440 following the steady stance of the FOMC at its meeting on Wednesday.
Hopes of a Greek deal remain thin
The euro has managed well to leave behind the negative sentiment surrounding the EU-Greece debt talks, with the scenario quickly deteriorating towards the end of the week.
Negotiations failed once again at this week’s Eurogroup meeting, all amidst the belligerent tone from the Greek authorities and the lack of flexibility seen from the EU demands. The salient point in the discussions remains the Greek pension cuts, and an agreement in the matter seems still far away.
Following the disappointment at the Eurogroup gathering, EU leaders have called an emergency meeting on Monday, while a conference call between EU officials has not been ruled out over the weekend.
Time for Greece is ticking out, as markets enter the last week before the June 30th deadline. Hopes of a deal are now thinner, although anything seems possible in this Greek saga… even light at the end of the tunnel.
(Market News Provided by FXstreet)