Greek banks got 16 billion Euros from rescue fund

Note: This section contains information in English only.
Source: Forexfactory
Four largest Greece's banks gained access to the ECB funds, according to the Greece's Ministry of Finance. The capital injection was implemented through bonds from the EFSF bailout fund and is aimed at pumping liquidity into National Bank, Eurobank, Alpha and Piraeus Bank. The banks gained 18 billion Euros for further recapitalization, the Finance Ministry added.
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Tue, 29 May 2012 07:05:01 GMT

Japan and China to launch Yen-Yuan trade in June

China is set to allow direct trade of the China's Yuan and the Japan's Yen in an attempt to promote trade between two countries. The move implies that the trade partners will not use the greenback as intermediary currency any more hence decreasing dependence on the US Dollar, said Dariusz Kowalczyk from Credit Agricole CIB. The direct trading will start

Tue, 29 May 2012 08:46:01 GMT

Aussie and Kiwi depreciates ahead of European confidence data

The New Zealand and Australian Dollars weakened against their US peer on Tuesday on worries that European financial uncertainty is curbing region's growth. Aussie and Kiwi declined 0.3% against greenback to USD 0.9827 and USD 0.7598 respectively. Currently AUD/USD is trading at USD 0.9863 and NZD/USD is trading at USD 0.7618. 

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