Euro pares losses

Euro pares losses

The Euro has pared its losses and filled the gap formed against the dollar on the open following the announcement of the Greek referendum.

‘It looks like a bit of stability has returned after the earlier onslaught, so I’d say there was a bit of profit-taking, given that we are very much in a state of flux’ RBC Capital said to Reuters.

The EUR/USD fell as low as 1.0954 in Asian trading but rebounded in early European trading. The upcoming Non-Farm Payrolls is likely to provide some stability in the pair as traders position themselves for a shift in rate hike expectations.

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