The Euro is trading at 1.1038 at the moment. The Euro has traded as low as 1.0973 while the high has been 1.1060. The Euro has firmed a bit this morning after a deadline was set for Greece to accept a new bailout within five days. This deadline was set after an emergency summit of euro zone leaders who met late on Tuesday evening. Any failure to reach an agreement in that time will cause European Union leaders to hold emergency meetings in Brussels on Sunday to contain the fallout from the crisis which will likely see Greece exit the EU. Hopes for an agreement rose after these parameters were set with Greek Prime Minister Tsipras looking to return to the negotiating table. These developments dominated the sentiment in the market today with little economic data released out of the region. This allowed investors to remain focused on the results of the EU proceedings to make definitive progress on the Greek crisis. Keep in mind that there is still some ways to go before an agreement can be met.
The British Pound is trading at 1.5373 currently. Sterling has traded as low as 1.5351 while the high has been 1.5467. Cable has touched 1-month lows today with worries of the current Greek debt crisis weighing heavily on the currency. Greece had been expected to bring new plans to the table on Tuesday. However, no new proposals were made and markets have continued to face further uncertainty that an agreement can actually be attained. Earlier today, UK data released included the BRC Shop Price Index which registered -1.3%. This figure was an improvement on the previous monthly number. Additionally, UK Halifax HPI was 1.7% which surpassed expectations. Despite this encouraging data out of the UK, Cable remains posed towards the lower end of the daily range. This downside pressure is directly related to the unresolved Greek debt situation.
The Japanese Yen is trading at 121.42 at present. USD/JPY has traded as low as 121.31 while the high has been 122.57. The Yen has firmed today as Chinese shares fell sharply causing investors to view the currency as a plausible safety trade. The Chinese stock market has had a terrible run lately seeing share prices plunge across the board. The Yen represents a comfortable place of stability for investors who are seeing their Chinese investments suffer in the decline. With the Euro under pressure due to the unresolved Greek debt crisis, both the US Dollar and the Yen have been viewed as sound safety trades as financial uncertainties in Europe and Asia impact world markets. Earlier during the Asian session Japanese Current Account beat expectations registering 1.64 trillion Yen. Meanwhile, Japanese Bank Lending remained unchanged at 2.5%. This was followed by Japanese Economy Watchers Sentiment which recorded lower than expected with 51.0. Overall this data has had little impact on the improving Yen today.
AUD/USD is trading at 0.7420 with the low being 0.7371 while the high has been 0.7459.
USD/CAD is trading at 1.2760 with the low trading at 1.2688 and the high being 1.2768.
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.