Merkel: Not much time left to reach Greek deal

FXStreet (Córdoba) - German Chancellor Angela Merkel said there is not much time left to reach a Greek deal and “every day counts”.

Speaking at the G7 summit, Merkel reiterated her usual rhetoric stating that they want Greece to stay in the Eurozone and said a Grexit cannot be compared to Lehman Brothers.

“All I can say now is that we want Greece to remain part of the eurozone … solidarity between European countries and with Greece means Greece will have to implement measures”.

Singapore Foreign Reserves (MoM) down to 250.19B in May from previous 251.92B

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EUR/USD rises above 1.12, yield spread favors EUR

The bid tone on the common currency strengthened further, helping the EUR/USD run through offers at 1.12 and trade within a touching distance of 23.6% Fib R of 1.0461-1.1465. The pair clocked an intraday high of 1.1223.
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