The Euro edged higher against the US Dollar and the British Pound today after finance ministers from the Eurozone approved the release of €10.3 billion to the Greek government in recognition of their efforts to drive through a difficult austerity program. According to one FX strategist in Sweden, there is great relief that Greece’s debt problems seem to finally be on the verge of resolving. With the exception of the Euro, the US Dollar was broadly higher on the latest surprisingly upbeat housing data from the US.
As reported at 10:49 am (BST) in London, the EUR/USD was trading higher at $1.1148, a gain of 0.07%. In today’s trading the pair has ranged from $1.1135 to $1.1159, a relatively tight band. The EUR/GBP was also higher at 0.7622 Pence, a gain of 0.06%; today’s trading band ranged from a low of 0.7602 Pence to a high of 0.7640 Pence.
Latest Exit Polls Weigh on Pound Sterling
The Pound came under pressure after the results of the latest polls were announced which whittled away the lead of the “In” camp. Those voters in favor of remaining within the European Union are now neck-and-neck with those who prefer that Britain leave. A referendum is being placed before Britons in an election to take place next month.