The Euro is trading at 1.1230 at the moment.  The low has traded at 1.1188 while the high has been 1.1261.  The Euro has come under pressure once again after talks between Greece and EU representatives remain at an impasse over pension reforms, budget targets and tax rates.  Without a new agreement between Greece and its EU creditors, chances of a default will continue to cause apprehension and therefore continually pressure the Euro.  Greek officials are being blamed as to why there is no new agreement as EU officials insist that Greece has not bought any new reforms to the table to secure its necessary funding.  However, the Greek finance Minister Yanis Varoufakis squashed thoughts that suggested that Greece would exit the EU.  He noted that debt restructuring was the only way forward in passing the issue.  Earlier today, the European Trade Balance recorded a larger than expected surplus of 24.3 billion Euros beating expectations.  But this encouraging data did little to divert pressure off of the Euro.  Looking ahead, investors are eyeing the Fed Rate Announcement and subsequent press conference to get a better idea of what the Fed will be doing in the short term.  This could prove refreshing while taking pressure off of the Euro even if it is only for a short while.

The British Pound is trading at 1.5493 which is the low of the day up to this point.  The high for Sterling has been 1.5569.  There has been no significant economic data released out of the UK today.  But due to the Greek debt debacle, Cable has softened as chances for an immediate solution have waned.  Adding to the cautious tone is the Fed Rate Announcement that will be made on Wednesday of this week.  With the Greek debt situation in the forefront, the Pound continues to come under pressure.  Failure of Greece to make a new agreement with its euro zone creditors will heighten chances of a default which remains a high possibility at this stage.  However, Greece appears to likely remain a member of the EU after the Greek Finance Minister said that debt restructuring was the only way forward so stay tuned in for the next round of talks.  Earlier During the Asian session, the UK Rightmove HPI reported a gain of 3.0% which beat the figure for the previous month.

The Japanese Yen is trading at 123.59 at present.  USD/JPY has traded as low as 123.13 while the high has been 123.66.  The US Dollar is poised towards the upper end of the current range after no significant data was released out of Japan today.  The Dollar has strengthened versus the other majors which might explain how it is currently priced versus the Yen.  Investors remain focused on the Fed Rate Announcement to be released later this week.  The key here will be watching for any change in the forward guidance as pressure continues to mount for the Fed to increase interest rates.  There will be no major Japanese economic data scheduled for release until Wednesday when the Japanese Trade Balance is scheduled.

AUD/USD is trading at 0.7726 with the low trading at 0.7704 while the high has been 0.7754.

USD/CAD is trading at 1.2357 with the low being 1.2603 and the high being 1.2358.



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.