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Greek deal hopes push up euro to 2-month high

8th February 2012

Hopes that a resolution on the latest Greek bailout will take place in the near future have served to boost the euro in forex trading this morning (February 8th).

Investors have seen significant fluctuations in the European single currency over recent weeks, but emerging confidence that a deal could soon be at hand has led to the currency rising to a two-month high today, Reuters reports.

"There has been a propensity by the market in general to look at the Greek scenario with a glass half-full approach, irrespective of the deadlines Greece has missed," senior currency analyst at Rabobank Jane Foley told the news provider.

As of 10:24 GMT, the euro had peaked at $1.3289 against the US dollar.

Earlier this week, the single currency dipped in forex trading after it was announced the Greek government was postponing its decision on the latest bailout package by a further 24 hours.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.