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Currency Analyst since 2010

Feb. 17: FOREX NEWS

EUR/USD fell from the levels above 1.1400 to the 1.1320 area. Euro fell as Greece and the euro area didn’t reach agreement on further financing of the country. Greek finance minister Yanis Varoufakis rejected a proposal to request a 6-month extension of the bailout program. Still the euro’s decline is limited as most traders expect a debt deal to be made at the last minute. The head of the Eurogroup Jeroen Dijsselbloem said that Greece has until Friday to request an extension. Varoufakis said that Greece will return to negotiating as it’s willing to extend the current aid program, but only on the right terms. “We are ready and willing to do whatever it takes to reach an honorable agreement over the next 2 days,” he stated.

Commodity currencies are holding their ground versus USD. AUD/USD is trading on the upside in the 0.7800 area. According to the minutes of the Reserve Bank of Australia’s February meeting, the central bank debated whether to cut interest rates this month or next, but then decided to do it earlier.

USD/JPY is little changed in the 118.50 area. GBP/USD is trading just above 1.5350 waiting for the UK inflation data.

Here are the most important evens for today:

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