European Session – Euro rallies above 1.14 on Greek debt deal optimism
Posted on February 3, 2015 at 3:21 pm GMTThe euro rallied to break above the key 1.1400 level for the first time in over a week, rising on the back of optimism on Greece’s debt renegotiation with its creditors. Greece decided to back off from demanding a haircut on its debt and instead proposed a plan that included bond swaps – i.e. replacing some of the current debt with growth-linked bonds and perpetual bonds. There was a positive market reception to the new Greek government’s proposals which boosted markets [..]