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EUR/USD: EURO declines due to concerns about Greece
The pair EUR/USD is traded downward at the Forex currency market on Monday morning, as investors fear that new complications might arise in the Greek issue in advance of the EU summit this Thursday.
By 9.30 Moscow time the Euro is at 1.4077 against closing level of 1.4156 on Friday.
Summit of the European group will be held in Brussels this Thursday. It will be devoted to the further finance to Greece. Recall that the second package of financial aid to Greece has not been approved yet, because participation of the private investors in this project has not been coordinated.
As long as uncertainty in the issue persists, the Euro will remain under pressure.
Before 22 of June this week, decision on the volume of the U.S. budget reduction shall be adopted, and it is also a risk factor for the major currency pair.
Most likely the pair EUR/USD will not go beyond the range of 1.4100-1.4200 at the trading session on Monday.
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