Euro (FXE) Rebounds On Renewed Optimism Over Greek Debt

The Euro (EUR) recovered from recent lows against the US Dollar (

) and other major currencies today after reports suggested that a new agreement is going to be achieved between European leaders over the Greek bail-out. Recent events and talks of insufficient austerity measures by the Greek government and a possible default on its debt put the European single currency under another wave of pressure. Talks of a new three year adjustment of the aid package, combined with Greek government's own announcement that it is going to unveil a new set of austerities tomorrow, helped the Euro to rebound across the board. The EUR/USD jumped from 1.4306 all the way to 1.4512, which represents a four week high. The pair retreated to below 1.45, however, and currently sits at 1.4480s. The Euro moved significantly higher against the Japanese Yen (

) and the Swiss Franc (CHF) too, as the EUR/JPY jumped from 115.80s to 117.30 and the EUR/CHF rallied from the fresh all time low of 1.2050 all the way to 1.2225.