Euro falling on renewed Greek Concerns

Euro falling on renewed Greek Concerns

Feb 05 2015

During his meeting with Greece new Prime Minister Yanis Varoufakis, Mario Draghi has announced that the ECB will no longer accept Greek Bonds from banks requiring funding. And thus the ECB decision has put more pressure on Greece anti-austerity government and has renewed risk aversion concerns. Therefore, the Euro declined against its major rivals and remained trading around the lowest level in 11 years near $1.13 level .However at the beginning of today trading session, the Euro recovered slightly offsetting some of its sharp losses.

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