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EUR/USD surges to territory on 1.08 handle - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that EUR/USD surged in the American afternoon to pressure the 61.8% retracement of the latest bearish run between 1.1034 and 1.0519 around 1.0840.
Key Quotes:
"...On hopes Greece will get a new final extension window, following a short meeting between Greek Prime Minister Alexis and German Chancellor Angela Merkel."
"According to officials, Tsipras "asked that the procedures be sped up so that the Feb 20 decision, which foresees a first interim agreement by the end of April, be implemented.""
"There is no official news on an actual resolution, just hopes. But as it came out right after disappointing US figures, with weekly unemployment claims rising to 295K last week, New Home Sales for March down, and US manufacturing PMI slowing below expected in April, it was enough to fuel dollar's slide."
"Earlier in the day, the pair fell down to 1.0660, as European Manufacturing PMI's reflected growth in the region decelerated in April, with EZ, German and French readings missing expectations."