Euro rises as Greece offers new proposals ahead of emergency EU summit

Posted On 22 Jun 2015

Tag: EUR, EUR/CHF, EURJPY, EURUSD, GBPUSD, NZDUSD, USDCHF, USDJPY

EUR/USD opened higher and gapped up from the 1.1350 New York close to 1.1385 very early in Asia. Headlines that new Greek proposals on reforms give optimism for a deal today at the EU emergency summit. EUR/USD edged up to test the key 1.1400 level and stopped just before it. In the buildup to the meeting, it may be difficult for euro to rise much further.

USD/JPY had a quiet Asian session with the market focus on Europe-Greece. USD/JPY opened with a gap higher at 122.94 compared to the US close on Friday at 122.69. Range trading ensued, 122.56-123.09.

EUR/JPY traded 139.45-140.09, was bid early, with vague hope of a Greece deal today. The pair then eased lower.

GBP/USD was quiet in Asia but was generally bid, trading a tight 1.5863-95 range.

EUR/GBP was quiet between 0.7155-75, above 0.7126 Friday low.

USD/CHF was heavy, edging down from 0.9186 to 0.9162. Support is seen 0.9070-80. .
EUR/CHF was slightly better bid on a Greece deal hope, trading from 1.0406 to 1.0436.

AUD/USD gapped down to 0.7753 very early Asia, compared to the New York Friday close of 0.7770.
AUD/USD quickly recovers to 0.7775, with bid tone thereafter, to a 0.7789 high.

NZD/USD opened in Asia at 0.6908, traded tight 0.6895-0.6918 range.

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Source:: Euro rises as Greece offers new proposals ahead of emergency EU summit

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