Euro Falls Versus Most Peers as Greece Revises Bailout Approach
Markets Assume There Won’t Be a ‘Grexit’: Saywell on Euro Impact
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The euro weakened against most of its major peers as Greece stepped up efforts to reach an accord with creditors in time to avert a default.
The shared currency erased losses against the dollar as the nation removed day-to-day responsibility for seeking the agreement from Finance Minister Yanis Varoufakis, after euro-area finance ministers last week pilloried his approach to bailout negotiations. The euro weakened versus most counterparts even as Greek bonds rallied with Spanish and Italian bonds amid optimism a revised approach may lead to a breakthrough.