FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet noted the potential of a Grexit has kept the greenback on demand this Tuesday, with the American currency raising to multi-weeks highs against its European rivals.
Key Quotes:
“Fears that the country will run out of cash, with market rumors suggesting the four main banks have only € 100,000 left, and the continued delay in negotiations, have taken their toll over financial markets. The urgency has pushed Athens to request for an interim arrangement to restore liquidity until the end of July, before a longer-term deal is reached, but the creditors are not willing to give any more outside a long term arrangement.”
“The EU summit ended with no news on the matter, and there are high possibilities of another summits to be scheduled during the upcoming days. In the US, the trade balance deficit was $41.9 billion in May, up $1.2 billion from $40.7 billion in April, revised, better-than-expected, whilst the number of job openings was little changed at 5.4 million on the last business day of May, according to the US Bureau of Labor Statistics, supporting the dollar’s strength.”
(Market News Provided by FXstreet)