Forex - Euro drops from 7-mth high vs yen, Greece deal eyed

Posted by Forexsq 634 days ago (http://www.reuters.com)
img The euro retreated from a seven-month high against the yen on Monday as traders booked profits on its recent rally, although expectations that Greece will secure new emergency loans would check losses.

Euro zone finance ministers meet on Monday for a third time in as many weeks to hammer out a deal to get international lenders to release aid to Greece in time for debt repayments due mid-December.

German Chancellor Angela Merkel has said that she was confident a deal could be reached, while the French finance minister said on Sunday an agreement was close.

A deal could give the euro a fillip, especially against the struggling yen which has been under pressure in the past few weeks on mounting speculation that a new government after next month's general elections will force the Bank of Japan to ease monetary policy aggressively.

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