Currency Analyst since 2010

EUR/USD is on the downside

EUR/USD is trading on the downside in the 1.0850 area.

The single currency is affected by uncertainty about whether Greece will be able to reach an agreement with its creditors. According to Reuters citing an unnamed source, the nation may run out of cash by April 20. The euro area financial officials are now studying the list of economic reforms proposed by Greece and this process can take more days.

US dollar, on the other hand, was supported by the comments of the Fed’s Chair Janet Yellen on Friday. Yellen confirmed that the central bank will start raising interest rate this year, but underlined that the lift will be gradual.

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