Forex: EUR/GBP hits fresh highs above 0.8550 on bailout deal for Cyprus

FXstreet.com (Córdoba) - The Euro rose across the board after a deal was reached between Cyprus and the European Union. The EUR/GBP rose from 0.8515 to 0.8557 reaching the strongest level since last Thursday and currently remains near the highs. Demand for the Euro rose after a deal was announced but market participants are still waiting for more details from the agreement.

EUR/GBP bottomed on Friday at 0.8483 (lowest price since Feb 11) during the European session and since then it has risen more than 60 pips. Despite recent recovery the EUR/GBP has not been able to fill the bearish gap created seven days ago.

Mar 25, 2013

Forex: EUR/JPY soars on Cyprus tentative deal

The EUR/JPY jumped from 122.70 to 123.77 as a tentative deal between Cyprus and the European Union was reached.

Eurogroup reaches agreement with Cypriot authorities

Already finished Eurogroup and FMI press conference, attending IMF chief Christine Lagarde, Eurogroup Chairman Jeroen Dijsselbloem, EU's commissioner for economic affairs Olli Rehn , European Central Bank (ECB) board member Jorg Asmussen, and ESM managing director Klaus Regling, the Eurogroup has reached an agreement with the Cypriot authorities “on the key elements necessary for a future macroeconomic adjustment programme,” the official Eurogroup statement reads.