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Currency Analyst since 2010

Euro is still hit by Greece

US dollar remained high versus other major currencies. The market players didn’t pay much attention to the news that American GDP contracted in Q1: further economic data are expected to be better, so the general feeling is that the Fed will increase interest rate later this year.

EUR/USD fell to 1.0900 after Greece missed on Sunday a self-imposed deadline for reaching an agreement with its lenders to unlock financial aid. Friday when the nation will have to pay 300 million euros to the IMF is getting closer and closer.

USD/JPY is trading above 124.00, just under the 12-year high of 124.46 reached last week. AUD/USD is consolidating around 0.7650. Australian building approvals contracted by 4.4%, while China’s manufacturing activity declined for the third consecutive month in May. NZD/USD is trying to recover from the 5-month low at 0.7076 and rise above 0.7100.

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