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EUR/USD: Euro is growing due to anticipation of Greek resolutions
The pair EUR/USD is traded slightly upward at the Forex currency market on Monday morning, due to anticipation of Greek resolutions.
By 8.25 Moscow time the Euro is at 1.3210 against closing level of 1.3156 on Friday.
Greek issue remains the most exciting for the market: Finance Ministers of Eurozone are willing to discuss and approve the grant of a new loan to Athens. At the same time position of IMF is still controversial: the Fund is ready to issue only 13 billion out of the total amount of 130 billion euro.
On Monday morning market makes use of the news that China has reduced reserve requirements for commercial banks in order to release some liquidity. However, reaction to this information is hardly tangible.
Therefore, it is unlikely that market will be able to switch to other news until Greek issue is completely finalized.
Most likely the pair EUR/USD will be in the range of 1.3110-1.3250 at the trading session on Monday.