Euro Welcomes IMF Decision

Euro Welcomes IMF Decision. FOREX ANALYSIS TODAY :

• USDCHF: Beware of Bullish Signal In Testing 0.9358
• GBP / JPY: Still Bearish Bias, Test 141.90
• GBP / USD: Moved By Downtrend, Test Support At 1.5974
• Euro Weakens, Towards a Level Key at 1.3200
• EURJPY: Bullish Signals From GMMA, Beware Area 117.62 - 120.19

The euro rose after the IMF approved the disbursement next bailout for Greece and Portugal. IMF bailout fund will channel € 3.3 billion after delaying disbursement during the year. Director of the IMF, Christine Lagarde, said Greece's bailout program is now on the right track although much remains to be done to ensure that policy reforms to boost productivity. EUR / USD is now trading 1.3340, moving away from a daily low of 1.3269. The IMF also approved a disbursement of € 838.8 million for Portugal as he praised the efforts of Lisbon in carrying out economic reforms and reduce the ratio of the budget deficit. The IMF is quite satisfied with the report card comes from Portugal despite the challenges of weak economic growth in the euro zone and the reluctance of politicians to support reforms.

IMF Approves Aid For Portugal Worth 838.8 Million Euros

International Monetary Fund or IMF had agreed to give further aid worth 838.8 million euros for Portugal in addition to state aid worth 78 billion euros of aid. The lender of the country, including the IMF, EU and ECB, agreed in September to members additional time to meet the Lisbon targets under a grant after the move have an impact on tax revenues that had been prepared for the ride.