The euro slid on Wednesday following Greece’s parliamentary speaker said the country won’t be able to pay the International Monetary Fund on or before June 5 without sealing a deal with international creditors.
Parliamentary speaker Nikos Filis reiterated this is the time to close the negotiations and their lenders won’t get any money if no agreement would be brokered to address the present funding problem.
The common currency slid to $1.1103 from Tuesday’s $1.1148, and £0.7151 from £0.7189. Against the Japanese yen, the shared currency ended at ¥134.05 from ¥134.76.
Greece has been struggling to reach a pact with its lenders over economic reforms necessary to access the last €7.2 billion tranche of their €240 billion bailout.
Also, the currency tumbled as the European Central Bank implied it would accelerate the pace of its bond buying program.
The material has been provided by InstaForex Company – www.instaforex.com