Against USD, EUR At 1 Month Lows And GBP At 2 Week Lows
ICM Brokers | May 27, 2015 03:51AM ET
EUR/USD
The euro was at one-month lows against the greenback, down 0.81% to 1.0890 and remained under heavy selling pressure. Greece and its European creditors on Tuesday sought to play down fears that Athens would default on a payment to the International Monetary Fund next week. Running short of cash to pay public sector salaries, pensions and debt obligations, senior members of Prime Minister Alexis Tsipras's government have said openly that Greece does not have the money to pay 300 million euros to the IMF on June 5.
GBP/USD
The pound fell to two-week lows against the U.S. dollar on Tuesday, after a positive economic data increased the likelihood of a rate hike in the near term and sent the dollar soaring. In a report consumer confidence rose to 95.4 this month from a reading of 94.3 in April, while core durable goods orders, excluding volatile transportation items, inched up 0.5% in April, beating forecasts for an increase of 0.4%.
USD/JPY
The dollar rose to fresh eight-year highs against the yen on Tuesday, after a burst of U.S. economic reports supported the view that the Federal Reserve could start raising interest rates later in the year. The dollar was boosted after upbeat data on business investment and consumer confidence indicated that the economy is recovering after suffering a sharp slowdown in the first quarter.
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