The BOJ Triumph - 21.2.2012
US dollar
Despite the holiday, the EU finance ministers meeting anticipation and a low-liquid market as a consequence, the dollar has gone under the 79 th figure against a basket of currencies as a positive decision on the Greek situation and kept desire for risk were expected. The movement is not supported by high-volume and looks like a correction to the weekly dollar increase.
Euro
Eurogroup has reached a compromise on the second program of assistance for Greece.
Final Summary - the Euro zone has entered into an agreement regarding the aid provision to Greece and the second aid package for Greece is 130 billion euros, private lenders of Greece have agreed to a substantial debt relief, debt cancellation for the ultimate holders of the bonds exceeds 53%, national central banks will not participate in the exchange of the duty, interest rates on the original loan for Greece will be lowered.
Even if it is assumed that the Greek Problem gooes from the front of the stage in the shadow, problems of the eurozone will not disappear. We will look forward to see what is the new object to be selected for the attack as a (weak link). The candidates are known - Portugal, Spain, Italy and probably France.
Yen
The BOJ triumph, so the recent day's events on the foreign exchange market in the land of the rising sun may be characterized. After a few measures including both, verbal and full-fledged intervention program of quantitative easing, the controller managed to reverse the trend towards strengthening the national currency. In conjunction with the renewal of interest for risky assets among investors, the further weakening of the yen can be expected.