EUR/USD stable as focus turns to Eurogroup meeting on Greece

EUR/USD remains stable above 1.10 despite uncertainty on Greece. Helping support the euro was the decision by the European Central Bank to maintain ELA assistance. EUR/USD opened in Asia at 1.1057 and came under slight pressure throughout Asia, to a 1.1025 low. Markets await new Greece proposals. Important events today include the Eurogroup meeting and emergency EU Summit on Greece.

USD/JPY remains in a range since yesterday, trading between 122.54-81. EUR/JPY traded between 135.29-67. Safe haven flows are supporting the yen.

AUD/USD opened in Asia at 0.7498, edged down from 0.7502 to 0.7465. Weak China stocks, RBA comments weigh on the aussie. Today’s RBA policy decision was to keep the benchmark interest rate unchanged at 2.0%.

NZD/USD traded between 0.6667-86 to-fro pre and post-RBA. There was a dip to a low on weak business confidence survey. The bias remains down as the market speculates that the RBNZ will cut rates.

GBP/USD slipped in Asia to move off from 1.5610 to 1.5586. EUR/GBP was soggy between 0.7075-85.

USD/CHF was slightly better bid in Asia, trading a 0.9424-40 range.
EUR/CHF was heavy between 1.0406-24on broad euro weakness.

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Source:: EUR/USD stable as focus turns to Eurogroup meeting on Greece

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