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EUR/USD holds gains after Greek loan extension announcement

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USD/JPY eased down from 119.27 early to 119.05-10 where it remained for most of the Asian session. The pair edged down further to 118.93 later but held onto most gains made from Friday’s rally. USDJPY is vulnerable to this week’s highlights – Fed Chair Janet Yellen’s testimony as well as US inflation and GDP data.

EUR/JPY fell back from 135.94 to 135.32. The euro remains supported across the board after Friday’s announcement of a EU-Greek extension deal. A formal agreement is expected later today.

EUR/USD opened in Asia at 1.1388 and held onto gains made after Friday’s spike to 1.1428 on a knee-jerk reaction to the tentative EU-Greece deal. The pair traded in a holding pattern in Asia between 1.1370-90. The pair could move higher today if Greece gives satisfactory measures on the 4-month extension deal. Greece needs to satisfy the troika with promises of fresh reforms in order for a formal bailout extension goes into effect.
GBPUSD was bid early up to 1.5409 but fell back later to 1.5370. EURGBP consolidated gains late Friday, holding between 0.7389-0.7404 in Asia.

USD/CHF saw a leg up from 0.9393 to 0.9443 on almost no volume. EURCHF saw a bump up from 1.0692 to 1.0740 with the market still nervous over possible SNB action.

AUD/USD opened in Asia at 0.7845 and fell back from 0.7849 to 0.7829. Continuing Lunar New Year holidays in China kept volumes low in the region.

The post EUR/USD holds gains after Greek loan extension announcement appeared first on Forex Circles.

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