Tuesday 19 May 2015

XE Market Analysis: Europe - May 19, 2015

The dollar retained the perkier tone that established yesterday. EUR-USD logged a six-day low at 1.1285 in Asia before recouping the 1.1300 level. The move has correlated with a fresh spike in Grexit concerns, though the ECB has stressed that it will not cut ELA to Greek banks should Greece miss an IMF repayment, while Draghi and others at the ECB have been stressing that the QE program will be fully implemented. USD-JPY saw a one-week high at 120.03, since settling to a narrow-range consolidation. The pair has recovered from a near three-week low at 118.88 that was seen last week.



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