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Currency Analyst since 2010

No progress in Greek talks

EUR/USD is trading in the 1.1200 area. The single currency remained under pressure as the negotiations between Greece and its creditors ended with no agreement.

European authorities blamed Greece for the collapse of the talks saying that the nation didn’t offer any new concessions to secure funding it needs to repay 1.6 billion euros ($1.79 billion) to the International Monetary Fund by the end of this month. German Chancellor Angela Merkel wants to keep Greece in euro but won’t work if Greece tries to set terms on its own. Greek government said that it is not leaving the negotiations.

Today the market’s attention will be focused on Mario Draghi’s speech at 13:00 GMT.

US dollar remains strong versus its counterparts ahead of the Federal Reserve’s meeting on Wednesday.

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