EUR steady, eye Fed Yellen


Published at 02:42 (GMT) 24 Feb

   

EUR/SGD, EUR/USD Flows: WSJ: Greece Delays Awaited Reform Proposals Until Tuesday; Eurogroup conference call; EUR steady, eye Fed Yellen (HHKC8001)

More on Greece; WSJ: Greece's government pushed back until early Tuesday a list of awaited reforms that its eurozone partners had demanded in exchange for continuing to fund the country for another few months.

Greek officials said late Monday that the list would be sent the following morning, past the original midnight deadline. Eurogroup are due to review the proposed reforms during a conference call Tuesday afternoon.

The delay isn't seen as crippling Greece's bid to seek a four-month extension of its €240bn ($273bn) bailout, both European and Greek officials said. In Athens, officials played down the missed deadline, saying they had already aired a draft of their proposals with European partners earlier in the day.

On FX, EUR/USD relatively steady, despite the missed deadline - as seen from above. Focus on comments after the Eurogroup conference call today. EUR/USD at 1.1337-40, offers at 1.1350-60/1.1400. Bids at 1.1290-00.

EUR/SGD at 1.5415-20, still in range of 1.53-1.58 on for now, with bias on downside. Eye 14-year lows of 1.4920-30 again. USD/SGD at 1.3595-00, offers at 1.3630-50, bids at 1.3580-90. Little impact after the Jubilee Budget.

Focus on Fed Chair Janet Yellen testimoney later today.

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