New Greece deal finally boosts the euro

Currencies Direct November 27th 2012 - < 1 minute read

The euro has rebounded again after fresh news coming out of
Greece regarding a new debt deal. It had been a good five days for
the single currency last week, but now that the continent has
announced an easing of conditions around Greek lending, it has seen
even more improvements.

The euro crept up against the dollar throughout Monday, reaching
a high of 1.3009 against the greenback to sit at a high not seen
since October 31st after leaders of the region agreed on
ways to bring debt-ridden countries back to good financial
health.

It was reported that this meant the euro saw a climb of 0.13 per
cent following prior good news last week.

Elsewhere, the pound also saw a solid start to the week as it
finally regained the 1.6000 barrier against the dollar after having
threatened to do so for most of last week.

It finished the day early in the week at 1.6051, and is expected
to see support at 1.6045 throughout Tuesday as it hopes to hold its
ground for now.

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Currencies Direct

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