Today, Eurozone Finance Ministers were scheduled to meet in Brussels to finalize Greece’s second bailout package needed to prevent the country from defaulting on loans due in March. The meeting has been delayed over concerns whether or not Greece will implement all budget cuts and policy reforms included in bailout package once new government officials are elected in April.
News of the delayed meeting caused the Euro to fall against the USD and JPY. The Euro fell to its lowest in more than one-week against the USD and fell from a two-month high against the JPY.
As Greece’s first repayment due date quickly approaches, news concerning the Eurozone debt crisis could continue to cause volatility in the Forex market. Forex education could help you be prepared for such market conditions, and overall help you become a more effective Forex trader.
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