The euro weakened today as the troika refused to provide a next round of bailout for Greece as the indebted country was continuously failing to stick to the targets that were set as conditions for the rescue package.
The austerity measures that Greece has already performed were not enough to convince the troika that the country will be able to reduce its debt. The politicians will continue to negotiate today and the Hellenic Republic may still get aid. The German court will decide on September 12 whether the country should participate in the permanent bailout fund, adding to uncertainty about the eurozone.
EUR/USD fell from 1.2807 to 1.2782 and EUR/JPY declined from 100.19 to 100.09 as of 8:53 GMT today.
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