Forex News Review – Euro extends losses on Greece concerns

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EURUSD extended losses in the Asian session as the Greek referendum issue made investors nervous and continued to sell off risk. Sentiment was battered further after news that the next EU/IMF 8 billion euro Greek aid tranche will not be disbursed until after the referendum. If the referendum vote is no, then Greece will lose its aid package and go bankrupt. EURUSD fell 0.6 percent to 1.3664 from 1.3745.

 

GBPUSD opened in Asia at 1.5947 and mirrored EURUSD movements by moving lower to 1.5874 in a risk-off environment.

 

USDJPY was steady in a very tight range supported above the key psychological 78.00 level. Volumes were light due to the Japanese holiday this Thursday. The yen advanced against the euro as the Greek referendum issue made investors nervous and they turned to the safe havens. EURJPY fell 0.6 percent from 107.28 to 106.64.

 

AUDUSD opened in Asia at 1.0337 and tumbled 1.3 percent to 1.0206 after Australian retail sales fell to 0.4 percent from 0.6 percent.

 

The New Zealand dollar weakened by almost 1 percent after unemployment data showed a rise to 6.6 percent in Q3 from 6.5 percent. NZDUSD fell to a session low of 0.7805 from 0.7875 before recovering slightly to 0.7834.