FX round-up: Markets steady amid Greek talks with European Union
The dollar stayed its ground against most major currencies on Wednesday as Greece held discussions with European Union officials ahead of its bailout expiry at the end of the month.
The country’s new leftist government has claimed is does not want to extend the bailout past 28 February amid concern that any issues with international creditors would push Greece towards a Eurozone exit.
Spreadex analyst Connor Campbell said: "The Eurozone has moved at a glacial pace of late in regards to its key decisions, and the constant stagnation in the region is draining the markets."
The EUR/USD stayed flat at 1.1313 on Tuesday while the dollar index, which measures the US currency against a basket of six others, remained steady at $94.79.
IG analyst Chris Beauchamp said: “The euro has been able to hold its ground for the time being, but this sanguine approach to the Eurogroup meeting will not last should the finance ministers depart without an agreement that will tide Greece over for the time being.
The USD/JPY advanced 0.33% to 119.83 as the GBP/USD rose 0.26% to 1.5293.
CMC Markets analyst Jasper Lawler said: “GBP/USD was steady ahead of the Bank of England inflation report on Thursday.”