Greek state minister hopes for deal at Eurogroup meeting on Thursday 8.18am BST Angus Campbell, senior analyst at FxPro, takes a look at the euro, which has been fairly resilient:Markets seem relatively sanguine as we end the week which has seen no progress in respect to the Greek debacle and today was supposed to mark the second repayment to the IMF of the month. The euro continues to defy the bears holding ground against the dollar around 1.1220 this morning, 0.7235 against sterling and 138.60 against the yen. The single currency remains a focus as investors await a resolution to Greece’s quandary and debates rage over whether the existing bailout will be extended or a brand new third bailout will be proffered. 8.15am BST European stock markets have opened lower, in a belated reaction to yesterday’s IMF walkout. The FTSE 100 in London opened nearly 30 points lower and is now down some 15 points, or 0.2%, at 6830.83. Spain’s Ibex has lost 0.5%, Germany’s Dax is down 0.4% and France’s CAC has shed 0.3%. Continue reading...
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