Source: ForexYard
The euro extended its bullish trend during the overnight session, as hopes that a deal can be reached to provide Greece with a new round of bailout funds can be reached next week boosted riskier assets. The EUR/USD advanced close to 30 pips last night, eventually trading above the 1.2900 level.
The US dollar saw minor downward movement last night against the Japanese yen, but analysts were quick to warn that rumors of additional monetary easing next month in Japan could turn the greenback bullish in the coming days. The USD/JPY is currently trading at 82.18, down slightly more than 20 pips from the beginning of Asian trading.
Main News for Today
German Ifo Business Climate- 09:00 GMT
• The indicator is forecasted to come in at 99.6, slightly lower than last month’s 100.0
• Any worse than expected news may cause the euro to give up some of its recent gains
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