Eurozone leaders reached an agreement on the third bailout for Greece. A whole weekend has not been enough. Until Monday, minutes before European opening, it has not been announced. Grexit is now dismissed.
Read here the official statement from the European Council.
Follow at FXStreet latest developments of the Greek situation and their impact on markets:
Read here the official statement from the European Council.
Follow at FXStreet latest developments of the Greek situation and their impact on markets:
Highlights
Greece to apply for further IMF programme after March 2016 - Merkel – Merkel stated that Troika will resume normal supervision of bailout programme and that Eurogroup is ready, if necessary, to grant longer grace period and longer loan maturities after first review of Greek programme.
ECB to hold ELA for Greece steady today - Reuters reports – The ECB governing council is to hold the Emergency Liquidity Assistance (ELA) steady today. The Greek deal reached today at the EU summit is more of a pre-deal deal.
EUR/USD drops to 1.1060 as risk-on sentiment returns – The common currency was offered across the board as the risk-on sentiment returned to the markets after Greek deal, thereby pushing the funding currency - EUR lower. The EUR/USD pair fell to a low of 1.1060.
Greek agreement news pushes EUR/JPY above 137.00 – The EUR/JPY pair rose to a session high of 137.59 after multiple news agencies reported Greek deal has been done at the EU summit.
Greek deal pushes money out of German Bunds – Greek deal news is pushing money out of the safe haven German Bunds and into the periphery bonds. The yield on the 10-year Geman Bund now trades 4.4 basis points higher at 0.938%.
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