The Euro has been under pressure since the prospect of a bailout for Greece by E.U. members dimmed with Germany –the region’s largest economy-showing the most resistance. The IMF reiterated its willingness to help the struggling nation, but it is a solution that would cast doubt on the solidarity of the region and the single currency. Bearish sentiment has waned as the pair has come up against major support. We may see a period of consolidation as markets wait for a final resolution to Greece’s issues.
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