Market News

Before euro zone finance ministers' meeting loomed ominously ahead, Greece repeated on Sunday that it was confident of reaching agreement in negotiations with its euro zone partners.

Greek Finance Minister Yanis Varoufakis said on Saturday he believed Athens would reach an agreement with its EU lenders about the way out of its international bailout, "even at the last minute".

Asian stocks climbed with emerging-market currencies after a ceasefire deal in Ukraine and signs of compromise on Greece’s debt negotiations.

A surprise comment emanating from the Bank of Japan (BOJ) shortly after London opened for business this morning sent the JPY up about 1% in a sudden spike against the USD, the Euro and the British Pound within a few minutes of the announcement.

The Euro edged lower in London trading on Thursday after there was news that no clear resolution was forthcoming on the Greek debt problem.

Greece was unable to reach a deal with the European Union to stay in an EU bailout program on Wednesday, Eurogroup President Jeroen Dijsselbloem said, noting talks will continue on Monday.

The situation in Greece, related to the modification of the latest debt bailout, has only become more confusing rather than clearer, and as a result FX traders have sold off their holdings in the Euro as they await a decision by EU leaders and Finance Ministers.

Asian stock markets were subdued on Wednesday while major currencies barely budged as looming euro zone meetings to discuss the Greek debt crisis overshadowed a firmer finish on Wall Street.

Commodity linked currencies gained support after investors’ expectations grew that the People’s Bank of China is on the verge of providing more economic stimulus.

Asian equities slipped on Tuesday as nervousness over Greece potentially withdrawing from the euro and escalating conflict in Ukraine sapped risk appetite, while the dollar lost steam after its payrolls-inspired rally.

Following last Friday’s dollar rally which came in the wake of a better than expected non-farms payroll report, the U.S. Dollar retreated in London trading as markets refocus their attention on Greece.

Leftist Prime Minister Alexis Tsipras laid out plans on Sunday to dismantle Greece's "cruel" austerity program.

China registered its largest trade surplus on record last month as imports plunged on falling commodity prices and weak domestic demand.

The Euro recovered some of Wednesday’s losses which followed the European Central Bank’s announcement that it would not accept Greece’s sovereign bonds in exchange for funding.

The European Central Bank adopted a hard line on Greece's debt Thursday, dealing a major blow to Athens' efforts to secure improved bailout terms with its creditors.