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4 Feb 2015
USD/JPY bears lapping up the Greek news
FXStreet (Guatemala) - USD/JPY is currently offered and trading at 117.14 at the time of writing, with pressures coming in a risk off mode market place due to the recent updates over Greece.
USD/JPY dropped as the ECB would likely oppose a crucial part of Greek's Finance Minister Yanis Varoufakis's plan being the sale of short-term treasury bills to raise €10bn. The ECB essentially lifted the waiver on using Greek government debt as collateral. Cash is not going to come that easy for Mr Varoufakis and we await Eurozone finance ministers who are due to meet on 11 February to discuss Greece's debt proposals. Meanwhile, the Yen continues to trade bid in early Asia and the bears are lapping u as much territory as possible ahead of this weeks nonfarm Payrolls data due on Friday.
USD/JPY dropped as the ECB would likely oppose a crucial part of Greek's Finance Minister Yanis Varoufakis's plan being the sale of short-term treasury bills to raise €10bn. The ECB essentially lifted the waiver on using Greek government debt as collateral. Cash is not going to come that easy for Mr Varoufakis and we await Eurozone finance ministers who are due to meet on 11 February to discuss Greece's debt proposals. Meanwhile, the Yen continues to trade bid in early Asia and the bears are lapping u as much territory as possible ahead of this weeks nonfarm Payrolls data due on Friday.