Traders are back on the risk wheel, refreshed once again with optimsim after Greece secured its second internationl bailout and the Greek finance minister said a formal draft for a debt swap will be made by the end of this week. The euro recouped loss on Greece, and the yen fell in longest streak in 2 months.
Gains in the dollar against its major peers were limited after U.S stocks rose to the highest levels since June 2008,leaving the dollar index to trade around 79.00 after opening at 78.97 and recording a high of 79.22 and a low of 78.80.
The euro extended gains against its U.S counterpart, after news Greece's government will introduce legislation to parliament today that will alow it to enforce losses on bondholders in a writedown of Greek debt.TheEUR/USDrose to 1.3257 from a low of 1.3186, after reaching a high of 1.3293 since opening at 1.3242.
The British pound extended dropversus the dollar, sending the GBP/USD pair down from the opening at 1.5850 and the highest level of 1.5865 to currently trade around 1.5785, up from the lowest level of 1.5772.
The Japanese yen fell for a fourth day against the dollar, the longest losing streak in more than two months, driving the USD/JPY pair up to trade around 79.70 from reocrding the highest level of 79.85 since the opening of 79.61 and the lowest of 79.55.