The Euro is trading at 1.1343 at the moment.  The low has been 1.13.11 while the high has traded at 1.1404.  The Euro has come under pressure today as the Greek debt debacle returns to the forefront of headlines on the economic front.  Uncertainty over the outcome of this situation continues to weigh on the markets as active measures to resume talks to address the issue are being planned.  The Greek Prime Minister Alexis Tsipras is planning to hold direct talks with representatives of the IMF, the ECB and a group of European finance ministers before an emergency summit of EU leaders.  These anticipated actions are being done in hopes of reaching a deal that would satisfy the EU creditors of Greece.  If no deal is attained Greece will have to institute capital controls to slow the outflow of funds leaving the banking sector which was seeing withdrawals of more than a billion Euros a day at the end of last week.  In the meantime, the Euro remains range bound with Eurogroup meetings planned all day.

The British Pound is trading at 1.5826 at present.  Sterling has traded as low as 1.5805 while the high has been 1.5910.  There has been no significant UK economic data released out of the region today.  However, Cable has eased lower as result of the growing uncertainty that persists with the Greek debt situation still unresolved.  The Dollar becomes the beneficiary as flight to safety concerns increase.  Although Sterling is a separate currency, the UK through its close affiliation to the EU sees its currency come under pressure as well with all European related economic issues.  This current crisis is no different.  The question still remains whether or not a resolution will be met that prevents Greece from defaulting and ultimately heading towards bankruptcy.  If a resolution is found, expect both the Cable and the Euro to rally as a result.  But at the moment, uncertainty prevents them both from making any sustainable gains.

The Japanese Yen is trading at 123.19 currently.  USD/JPY has traded as low as 122.56 while the high has been 123.36.  The US Dollar has advanced today versus the Yen as the Greek debt debacle has weighed on the currencies.  The US dollar has proven to be the beneficiary as a result of the concerns over a resolution to the impasse.  At this point, the dollar remains poised towards the upside while talks are ongoing.  Any mention of a possible resolution will see the currencies regain ground they have lost with the market reflecting a more balanced price reaction.  There is still a lot to be done before there is daylight in seeing the impasse settled. But while talks are ongoing uncertainty and optimism are the overriding emotions.

AUD/USD is trading at 0.7771 with the low being 0.7752 and the high being 0.7797.

USD/CAD is trading at 1.2249 with the low being 1.2217 and the high being 1.2277.


This information has been prepared to provide you with general information only. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information.