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EUR/USD Pushes Higher, GBP/USD Almost Unchanged

EUR/USD Pushes Higher, GBP/USD Almost Unchanged

EUR/USDThe euro pushed higher against the dollar on Thursday, as investors remained on edge ahead of a Greek referendum on Sunday. On Thursday, the IMF delivered a blunt warning of the huge financial hole facing Greece, as angry and uncertain voters prepare for a referendum that could decide their country’s future in Europe. Days after Greece defaulted on part of its IMF debt, the Fund, part of the lenders’ “troika,” said Greece needed an extra 50 billion euros over the next three years, including 36 billion from its European partners, to stay afloat.

EUR/USD 4 Hour Chart

GBP/USDThe pound was almost unchanged against the U.S. dollar on Thursday, trading at two-and-a-half week lows, despite better than expected U.K. construction data, as concerns over the Greek debt crisis continued to dampen market sentiment. Research group Markit (NASDAQ:MRKT) reported on Thursday that the U.K. construction purchasing managers’ index rose to a four-month high of 58.1 this month from 55.9, beating expectations for a reading of 56.5.

GBP/USD 4 Hour Chart

USD/JPYThe dollar remained broadly lower against the Japanese yen on Thursday, after the release of downbeat U.S. economic reports dampened expectations for a rate hike by the Federal Reserve in the near future. In a report, U.S. Bureau of Labor Statistics said that the total nonfarm payroll employment increased by 223,000 in June and the unemployment rate declined to 5.3%.

USD/JPY 4 Hour Chart

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