The euro weakened further on Tuesday as talks between Greece and euro
zone finance ministers reached an impasse, setting the stage for the
current bailout agreement to lapse at the end of the month.
EUR/USD traded at 1.1334, down 0.18%. AUD/USD traded at 0.7784, up 0.14%, after the release of the minutes of the Reserve Bank of Australia's most recent board meeting showed concern over the pace of growth and cut the cash rate 25 basis points to a record low 2.25%.
"In deciding the timing of such a change members assessed arguments for acting at this meeting or at the following meeting." They preferred a February move because it "offered the opportunity of early additional communication in the forthcoming Statement of Monetary Policy," the RBA said. That Feb. 9 statement contained revised forecasts and detailed commentary and came three days after the cut.
USD/JPY traded at 118.36, down 0.11%.
Talks between Greece and euro zone finance ministers over the country's debt broke down on Monday when Athens rejected a proposal to request a six-month extension of its international bailout as "unacceptable".
The unexpectedly rapid collapse raised doubts about Greece's future in the single currency area after a new leftist-led government vowed to scrap the 240 billion euro bailout, reverse austerity policies and end cooperation with EU/IMF inspectors.
Dutch Finance Minister Jeroen Dijsselbloem, who chaired the meeting, said Athens had until Friday to request an extension, otherwise the bailout would expire at the end of the month.
Greece’s current €240 billion bailout is due to expire on February 28 and the new Greek government does not want it extended, fuelling fears over a conflict with its creditors which could trigger the country’s exit from the euro zone.
Read more Click here / www.trade4x.net
EUR/USD traded at 1.1334, down 0.18%. AUD/USD traded at 0.7784, up 0.14%, after the release of the minutes of the Reserve Bank of Australia's most recent board meeting showed concern over the pace of growth and cut the cash rate 25 basis points to a record low 2.25%.
"In deciding the timing of such a change members assessed arguments for acting at this meeting or at the following meeting." They preferred a February move because it "offered the opportunity of early additional communication in the forthcoming Statement of Monetary Policy," the RBA said. That Feb. 9 statement contained revised forecasts and detailed commentary and came three days after the cut.
USD/JPY traded at 118.36, down 0.11%.
Talks between Greece and euro zone finance ministers over the country's debt broke down on Monday when Athens rejected a proposal to request a six-month extension of its international bailout as "unacceptable".
The unexpectedly rapid collapse raised doubts about Greece's future in the single currency area after a new leftist-led government vowed to scrap the 240 billion euro bailout, reverse austerity policies and end cooperation with EU/IMF inspectors.
Dutch Finance Minister Jeroen Dijsselbloem, who chaired the meeting, said Athens had until Friday to request an extension, otherwise the bailout would expire at the end of the month.
Greece’s current €240 billion bailout is due to expire on February 28 and the new Greek government does not want it extended, fuelling fears over a conflict with its creditors which could trigger the country’s exit from the euro zone.
Read more Click here / www.trade4x.net
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