Euro flat against dollar in early US trading, as Eurogroup accepts Greek plan
24 February 2015, 15:39
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On Tuesday the single currency turned flat against
the dollar, impacted by the news the
Eurogroup approved Greece's reform plan, which was required for
Athens to receive a four-month extension on its bailout.
Top European Commission officials called the proposals submitted by Greece "sufficiently comprehensive to be a valid starting point." The six-page proposal pushed back on campaign promises from
Greece's new government to halt privatizations, boost welfare
spending and raise the minimum wage, and pledged to consult
partners before key reforms and keep them budget-neutral.
The euro hit a U.S.
session high of $1.13415 in early New York trading, before slipping to $1.13210, down 0.1
percent on the EBS trading system, says Reuters.
