Euro Currency Values ​​Rise Due to The Greek Agreement

Admin | Bussiness | February 12, 2012

Euro currency slightly higher on Thursday (Friday morning local time) after the Greek politicians approved the austerity measures that will hopefully bring a new bailout of the European Union and European Central Bank kept its rates unchanged.

At 22:15 GMT (05:15 GMT) the euro currency was at 1.3286 dollars, compared with 1.3260 dollars late on Wednesday.

Meanwhile, the yen continued to slowly slide as indicators paint a bad picture of the Japanese economy, with data released Wednesday showed the country’s current rates account surplus in 2011 at the lowest level since 1996.

The euro currency rise to 103.20 yen from 102.14 yen, while the dollar rise to 77.68 yen from 77.03 yen.

“The single euro currency remains supported throughout the session, after the ECB kept interest rates at 1.0 percent, with President Mario Draghi citing that the economic conditions in Europe have shown signs of stabilizing,” said Michael Boutros from DailyFX.

“Supported also reports that Greek officials had reached agreement on a strict austerity measures required in order to get the country’s next stage of the bailout of 130 billion euro,” he said.

The dollar rates slipped to 0.9116 Swiss francs from 0.9124 francs, while the British pound was almost flat at 1.5816 dollars, compared with 1.5818 dollars. Some analyst predictions that the euro could in the Lower U.S. Dollar 1.30

Buyung Afrianto is Founder & CEO of Adverticom, Inc. "Advertorial | Clasifieds Search" web agency founded in 2009. He deals with the development of web applications & advertising online. Interested in blogging & monetize, often conduct research about WordPress development for various online businesses.

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