Euro falls amid concerns over new Greek aid
Page 1 of 1 • Share
Euro falls amid concerns over new Greek aid
[You must be registered and logged in to see this image.]
TOKYO: The euro eased against the dollar in Asia on Wednesday amid a eurozone row over a second Greece bailout, analysts said.
The euro eased to $1.4424 in Tokyo morning trade from $1.4440 late Tuesday in New York where the single European currency staged a modest rise. The euro fell to 116.03 yen in Tokyo from 116.24.
The dollar fetched 80.46 yen, flat from New York.
The modest rise of the euro against the dollar on Tuesday "likely reflected the better US economic news and continuing Greek debt crisis," National Australia Bank currency strategist John Kyriakopoulos said in a note.
"There were rumours that a eurozone accord on a new Greek bailout may be delayed to July," he said.
The euro may fall to 1.4350 later Wednesday as uncertainty persists over the Greek aid programme with Greek bond yields sharply higher, Bank of Tokyo-Mitsubishi UFJ senior analyst Sumino Kamei said in a note.
Eurozone chiefs struggled Tuesday to overcome deep divisions as to how far banks can be persuaded to "voluntarily" back Greece's second bailout in the battle to avoid Athens going bankrupt.
Six and a half hours of talks in Brussels ended with ministers organising another meeting in Luxembourg for Sunday evening, before planned discussions on Monday -- and ministers admitted a deal is in doubt even when European Union leaders gather for a June 23-24 summit.
The dollar got support against the yen from the release Tuesday of better-than-expected US data on retail sales and wholesale inflation.
But the greenback failed to gain further ground on Wednesday due to profit taking, a Japanese bank trader said.
Traders are also becoming wary of taking risks amid limited gains in the Nikkei stock index and on concerns that China may raise key interest rates.
The Nikkei was up 0.07 percent in late morning trade.
The state-run China Daily reported Wednesday China should hike interest rates and do so in weeks, if not days, to prevent inflation from rocketing. (AFP)
TOKYO: The euro eased against the dollar in Asia on Wednesday amid a eurozone row over a second Greece bailout, analysts said.
The euro eased to $1.4424 in Tokyo morning trade from $1.4440 late Tuesday in New York where the single European currency staged a modest rise. The euro fell to 116.03 yen in Tokyo from 116.24.
The dollar fetched 80.46 yen, flat from New York.
The modest rise of the euro against the dollar on Tuesday "likely reflected the better US economic news and continuing Greek debt crisis," National Australia Bank currency strategist John Kyriakopoulos said in a note.
"There were rumours that a eurozone accord on a new Greek bailout may be delayed to July," he said.
The euro may fall to 1.4350 later Wednesday as uncertainty persists over the Greek aid programme with Greek bond yields sharply higher, Bank of Tokyo-Mitsubishi UFJ senior analyst Sumino Kamei said in a note.
Eurozone chiefs struggled Tuesday to overcome deep divisions as to how far banks can be persuaded to "voluntarily" back Greece's second bailout in the battle to avoid Athens going bankrupt.
Six and a half hours of talks in Brussels ended with ministers organising another meeting in Luxembourg for Sunday evening, before planned discussions on Monday -- and ministers admitted a deal is in doubt even when European Union leaders gather for a June 23-24 summit.
The dollar got support against the yen from the release Tuesday of better-than-expected US data on retail sales and wholesale inflation.
But the greenback failed to gain further ground on Wednesday due to profit taking, a Japanese bank trader said.
Traders are also becoming wary of taking risks amid limited gains in the Nikkei stock index and on concerns that China may raise key interest rates.
The Nikkei was up 0.07 percent in late morning trade.
The state-run China Daily reported Wednesday China should hike interest rates and do so in weeks, if not days, to prevent inflation from rocketing. (AFP)
Noor Bangash- Monstars
-
Posts : 868
Join date : 2011-07-13
Age : 34
Character sheet
Experience:
(500/500)
Similar topics
» Euro falls further amid risk aversion
» Euro falls further amid risk aversion
» Euro eases amid uncertainty over Greek bailout
» Euro falls back amid Greece's debt woes
» Euro firms amid cautious optimism over Greek debt
» Euro falls further amid risk aversion
» Euro eases amid uncertainty over Greek bailout
» Euro falls back amid Greece's debt woes
» Euro firms amid cautious optimism over Greek debt
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
Sat May 04, 2024 11:49 am by ali001
» house disrepair claims
Thu May 02, 2024 4:29 pm by Ibad Khan Buledi
» Bounce n Bang: Physics puzzler
Thu May 02, 2024 11:39 am by ali001
» AIChatSY - AIChatbot Assistant
Wed May 01, 2024 10:48 am by ali001
» Storybook Magic App
Tue Apr 30, 2024 7:06 pm by ali001
» Flower Book Match3 Puzzle Game
Tue Apr 30, 2024 12:17 pm by ali001
» Avian Influenza Symptom in Chickens "Bird Flu H5N1 Virus" Vet learning materials, Poultry Farming
Sat Apr 27, 2024 9:57 am by Ibad Khan Buledi
» Aloha Planner - Note-Taker
Thu Apr 11, 2024 4:52 pm by ali001
» Streaming Guide Film TV Series
Tue Apr 09, 2024 9:39 pm by ali001