Dollar strengthens as Greek crisis deepens

Note: This section contains information in English only.
Source: Bloomberg
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EUR/USD fell to USD 1.2688, as Greeks are reported to head back to polls again next month. Additionally, Greek depositors took out as much as €700 million from their banks on Monday, intensifying risk of a full-scaled bank run and making their financial institutions even more vulnerable to funding stress. Among other currencies, the dollar strengthened versus the Japanese Yen to ¥80.42 , while the Cable fell to USD 1.5944. Under current circumstances some analysts encourage traders to invest in safer currencies. As the New Zealand and Australian Dollars weakened against the U.S. Dollars, Lauren Rosborough, Societe Generale strategist, expressed his concern that these currencies are overvalued.

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