Arab Today, arab today euro slips dogged by worries about greece
Last Updated : GMT 23:03:50
Arab Today, arab today
Arab Today, arab today

Euro slips, dogged by worries about Greece

Arab Today, arab today

Arab Today, arab today Euro slips, dogged by worries about Greece

Dubai - Arabstoday

The euro slipped back close to a three-week low on Thursday, hurt by jitters over Greece\'s plan for a referendum on the eurozone debt deal, with market players seeing the risk of more downside in the next couple of months. The euro retreated as attention shifted back to Greece after the US Federal Reserve offered no new stimulus on Wednesday, saying it was mulling the possibility of buying more mortgage debt to spur a struggling recovery. The single currency fell 0.4 percent to $1.3687 , nearing a three-week low of $1.3608 hit this week. Further below, one possible support lies at $1.3566, the 61.8 percent retracement of its October rally. \"We\'re negative on the euro. There are very few scenarios in my mind where the euro can rally significantly,\" said Adarsh Sinha, Asia-Pacific G10 FX strategist at Bank of America Merrill Lynch in Hong Kong. Positive scenarios, such as European officials and the International Monetary Fund agreeing to unconditionally fund Greece while it sorts out its domestic politics, are very unlikely, Sinha said. Indeed, German Chancellor Angela Merkel and French President Nicolas Sarkozy told Greece on Wednesday it would not receive another cent in European aid until it decides whether it wants to stay in the eurozone. \"Our central scenario is the euro moves towards $1.30 by year-end,\" said Bank of America Merrill Lynch\'s Sinha, adding that the euro could drop further if there is an extreme outcome, such as Greece leaving the eurozone or if there is a disorderly default of Greek debt. Adding to the market\'s risk-off tone, the Australia dollar slid 1 percent to $1.0238 , its drop exacerbated by selling by options players. Traders said low market liquidity likely helped to exaggerate the moves in the Australian dollar and the euro, with Tokyo players away for a Japanese public holiday on Thursday. The dollar was stuck in a narrow range against the yen, holding steady at 78.05 yen . The focus is on whether Japan will intervene if the yen starts heading higher again after Tokyo\'s massive yen-selling on Monday, estimated at a record 7.7 trillion yen. The euro has taken a hit this week after Greece\'s prime minister said that Greece would hold a referendum on a second bailout plan negotiated with eurozone leaders last week. Investors are worried Greek voters could vote down the rescue plan, raising the possibility of a disorderly default by Greek debt. Markets took no comfort in the latest headlines on Greece. The Greek prime minister said the referendum will take place on Dec. 4 or 5, meaning another four weeks of uncertainty. \"Although further developments in the euro debt saga are likely to trigger more market volatility, a possible slowdown in the real economy, as indicated by the recent release of euro area PMIs, will be more of a concern medium-term,\" Barclays Capital analysts warned. \"We think a slowdown would keep weighing on the euro, even if risks from European debt issues decline temporarily.\" For many, the European Central Bank is seen as the only institution with the firepower to calm tensions. Its new head, Mario Draghi, is expected to play safe at his first policy meeting as ECB president on Thursday, seeking to project calm rather than being panicked into ramping up the bank\'s response to the escalating eurozone crisis. A change in interest rates is unlikely at Thursday\'s meeting and markets will be watching for any clues on whether he stands ready to carry on, or even scale up, the ECB\'s bond-buying programme.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today euro slips dogged by worries about greece Arab Today, arab today euro slips dogged by worries about greece

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today euro slips dogged by worries about greece Arab Today, arab today euro slips dogged by worries about greece

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Lufthansa chief eyes up to 78

GMT 11:29 2017 Thursday ,21 September

Lufthansa chief eyes up to 78
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Rouhani at UN defends Iran nuclear deal

GMT 09:41 2017 Thursday ,21 September

Rouhani at UN defends Iran nuclear deal
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today China lifts 10-year travel ban

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:49 2017 Wednesday ,20 September

WHO urges Yemen to accept vaccines

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday