European session:
12.09.2011 12:05:00
The euro retreated from session low but still is under pressure.
The euro earlier dropped to its lowest level since 2001 against the yen and slid versus the dollar as speculation German Chancellor Angela Merkel is preparing for a Greek default curbed demand for the 17-nation currency.
The euro earlier dropped to its lowest level since 2001 against the yen and slid versus the dollar as speculation German Chancellor Angela Merkel is preparing for a Greek default curbed demand for the 17-nation currency.
Officials in Merkel’s government are debating how to shore up German banks in the event that Greece fails to meet the budget-cutting terms of its aid package and is unable to get a bailout-loan payment, three coalition officials said on Sept. 9. Merkel is due to hold talks on the debt crisis with European Commission President Jose Manuel Barroso today.
EUR/USD: the rate receded from session low. Currntly the pair tests resistance at $1.3645/60 area.
GBP/USD: the rate restored in area of session high.
USD/JPY: the rate showed low at area of Y76.70 but later restored back above Y77.00.
There is no key economic data in US.
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