Friday 19 January 2018

Euro erases decline against dollar on Greek aid speculation

Paul Dobson

The euro rose against the dollar and the yen, erasing declines, on speculation Greece may signal it’s ready to accept funding from the European Union and International Monetary Fund to help pay its debts.

“The Greek media is saying Greece is going to ask for EU and IMF assistance,” said Neil Jones, head of European hedge-fund sales at Mizuho Corporate Bank Ltd in London.

“We’ll get temporary relief and that is why the euro is higher.”

The single currency rose to $1.3326 as of 10am in London, from $1.3295 in New York yesterday, after dropping as much as 0.7pc to $1.3202.

The euro gained 0.2pc to 124.51 yen, after weakening to 123.42 yen.

Bloomberg

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