Forex: EUR/USD at session highs; very busy day ahead

FXstreet.com (Barcelona) - EUR/USD is climbing to session highs in late Asia-Pacific around 1.3276 as these lines are written, only 8 pips below yesterday's highs, highest since Dec 12. In a turn around day so far since early trade in Asia when the pair made session lows at 1.3216, EUR/USD has regained completely the upper side, and now threatens breaching to new highs on hopes an agreement in the Greek issue seems at hand.

Today will be a very busy ahead, not only from the political front with the European finance ministers meeting and the head of the IMF participating in it as well, but because the ECB will set its minimum bid rate at 12:45 GMT followed by the press conference at 13:30 GMT, when market will look for hints on Draghis words of what will happen with the new widening of the acceptable collateral, among other things, which could include asset backed securities according to Marc Chandler from seekingalpha.com.

As last reported, Greece Finance Minister Venizelos was about to board a plane to Brussels at 6 am local time telling journalists “all issues agreed except one”, referring to the sticking point with Troika dealing with pension cuts, and “hopes eurogroup will take positive decision”. Few moments after this, the pair was shooting up to recent session highs, where now seems to have settle down a bit ahead of London open. Last at 1.3273.

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