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- European session: the euro still under pressure
European session: the euro still under pressure
The euro retreated from a 22-month low against the dollar after Italian Prime Minister Mario Monti said Greece will probably stay in the euro, and Germany can be persuaded to support Europe’s “common good.”
But the 17-nation common currency fell again after reports commentsz from Spain Catalonia region that they are in need of govt help as running out of debt financing options.
Euro-area finance ministers and leaders don’t plan to meet again until after the Greek election next month, which may determine the fate of the currency bloc. The June ballot was called after a May 6 vote left no party able to form a government, with voters sending the anti-bailout Syriza party into second place.
EUR/USD: the pair showed high in $1,2600 area then returned to area of session low $1,2500.
GBP/USD: the pair was limited $1,5640-$ 1,5700.
USD/JPY: the pair receded in Y79.50 area.
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