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Greece’s Matter Exerts More Pressure on the Euro

Last Friday the euro traded lower versus other major counterparts, as the Greece’s matter resumes being the major focus, and exerts a lot of pressures on the euro region's currency.
The EUR/USD pair ended the week 0.35% lower, with 1.74% losses, at the price of 1.1164 prior to Friday’s trading session closure.
The Eurozone’s currency traded lower versus the Swiss franc and the yen, with the EUR/CHF and EUR/JPY having approached the 1.0428 and the 138.32 levels respectively.
Furthermore, on Tuesday this week, Greece will have to settle a repayment to the International Monetary Fund (IMF) amounting to €1.6 billion.
In the scenario where the Greek nation is not able to settle its repayment to the IMF it risks and increases its chances of exiting the euro area.
The USD/JPY escalated higher to 123.94, having recorded a rise of 0.17%, with the U.S. dollar closing higher versus the yen even though the pair stabilized lower than 124.37 the weekly high.
This week, traders and investors will once again focus on the Greek matter, after Alexis Tsipras, the Greek Prime Minister, discarded Saturday’s negotiations and called for a referendum on July 5, 2015.
Moreover, traders will be closely monitoring the release of the U.S. employment report scheduled for Thursday.


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