USD/JPY rose to 8-year high
USD/JPY rose to 8-year high at 122.68. The US dollar was driven up by the Federal Reserve Chair Janet Yellen’s upbeat comments on policy rates and the US economy made on Friday. Yellen expects American economic data to improve. In her view, weaker figures at the beginning of the year were caused by “statistical noise.” Traders await the release of durable goods and consumer confidence data due today at 12:30 and 14:00 GMT respectively.
EUR/USD fell to 1.0900. The euro is under pressure because of Greece. The nation is running out of time to reach an agreement with its creditors, a failure with which will lead the nation dangerously close to default. The head of the European Stability Mechanism Klaus Regling said that Greece won’t get further financial aid if it doesn’t agree to conduct economic reforms required by the euro area’s authorities.