greement to prevent Greece plunged toward bankruptcy after Athens submits new proposals to its creditors. EUR/USD surged up to 0.38 percent to 1.1395, not far from the high level one month formed on Thursday. But later, the pair dragged down quite drastically to 1.1321. Meanwhile, the EUR/JPY rising 0.42 percent to 139.88 and EUR/CHF rose 0.33 percent increase to 1.0449.
Athens reportedly put together a package of economic reforms that have been updated on Sunday yesterday. This indicates that it is indeed truly wanted to end the deadlock that had hampered the bailout funds amounting to dikucurkannya 7.2 billion euros so that Greece won't default. In addition, if Greece defaults, then the doors ' Grexit ' the more wide open.
The New Proposal, A New Hope?
PM Greece, Alexis Tsipras, scheduled to speak with representatives from the IMF, the ECB, and the Finance Ministers of the eurozone to discuss the latest proposal submitted by Greece and is expected to be able to reach an agreement. The single currency-currency gain appeal in lately with regard to the short position in a difficult Euro estimated.
The 19 countries currencies already too oversold in anticipation will release massive stimulus asset purchase programme the ECB this year. In addition, according to Shinichiro Kadota, Chief Forex Strategist at Barclays Japan in
terviewed by Reuters, today is the day Greece. The uncertainty still surrounding the results of the negotiations will make sensitive Euro with tidings of Greece's debt.
