The euro inched up on Thursday on strong German data, clawing back some of the ground it lost the previous day after the European Central Bank said it would no longer accept Greek bonds in return for funding.
The ECB’s surprise announcement late on Wednesday, which means the Greek central bank will have to provide the country’s lenders with tens of billions of euros of emergency liquidity in coming weeks, knocked the euro down almost two cents to $1.1304 in Asian trading.
The currency later regained some ground to trade at $1.1366, up 0.3 percent from late U.S. trade but well below an almost two-week peak of $1.1534 set on Tuesday during a short-covering rally.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.