Euro at its lowest level in seven years

Euro at its lowest level in seven years

Thursday, February 12, 2015 10:42

Euro at its lowest level in seven yearsBAGHDAD / follow Baghdadi News / … The euro fell to its lowest level in seven years against the pound sterling, on Wednesday, ahead of a meeting of finance ministers of the euro area to discuss the crisis in Greece, where it is likely to cause the failure to reach a common position on the burden of Greece’s debt to volatility in trading.
At the same time, the dollar jumped to its highest level in a month against the yen, supported by the high yields of US Treasury bonds. Trading was weak with the closure of Japanese markets for public holidays.
And will ask the Greek Finance Minister Yannis Varogakis the ministers group of euro zone finance demands to end his country’s international bailout and the transition to a new agreement to restructure the debt.
In his first participation in the meetings of the group will seek to Varogakis tentative agreement to buy time until June to be a comprehensive settlement.
The euro rose on Tuesday, supported by optimism to reach a compromise which would be acceptable to the market more of a Greek exit from the euro zone. Any hint to the collapse of the talks could lead to a sharp fall of the euro.
The single currency fell 0.25% to $ 1.1295. And lost 0.4% against the pound sterling to 73.85 pence, the lowest rate in seven years.
The dollar rose 0.4% to 119.95 yen its highest level in a month.
The dollar gained support from higher returns standard US Treasury bonds for ten years, with more than 2% on Tuesday for the first time in a month with the support speculation that the Federal Reserve (the US central bank) may raise interest rates by mid-year 2015, ended 21 / l
The dollar index, which measures the US currency’s performance against a basket of major currencies 0.1% to 94.895.

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