Forex - Euro falls on lack of detail on Greece deal

Posted by Forexsq 601 days ago (http://www.reuters.com)
img forexsq - The euro fell against the yen and dollar on Wednesday as investors took profit on gains made after euro zone policymakers agreed on a new debt target for Greece.

The yen also rose against the dollar as market players pared back expectations of aggressive monetary easing by the Bank of Japan and concerns about the U.S. fiscal cliff increased.

International lenders agreed a plan to cut Greek debt earlier this week, allowing the country to avoid a chaotic default and helping push the euro to a one-month high of $1.3010.

But a lack of detail and growing scepticism over how Athens will implement the reforms needed to reach the new targets made investors wary of pushing the single currency higher. forex

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