Resilient Euro Holds Quarterly Gain as Greece Misses IMF Payment
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The Greek stock market and banks may be closed, but the nation’s turmoil hasn’t damped the euro’s strength. The currency was little changed Wednesday after completing its first quarterly advance since early 2014.
Volatility increased and the euro dropped versus most of its major peers Tuesday after Greece requested a two-year bailout program from the euro region. The International Monetary Fund said Greece missed its deadline on a $1.7 billion payment. The euro climbed in June, proving remarkably resilient in the face of a potential Greek exit from the currency bloc.