Euro Falls as Uncertainty remains over Greek Bailout Package |
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The Euro was under pressure throughout the New York session as uncertainty over the Greek bailout package encouraged more selling. Downside momentum dried up as the market approached last week’s low at 1.3443. This triggered a late session short-covering rally which helped erase close to half of its losses. Optimism over a possible deal between the European Union and Greece waned as traders grew impatient over the lack of progress toward a resolution regarding the Greek debt crisis. A
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