Euro Mostly Lower Against Majors as EU Leaders Meet

European Union leaders and policymakers are meeting today and tomorrow to try and figure out what should be done about Greece. Speculation about what could be next means a wary euro that is mostly lower against its major counterparts.

Today, finance ministers from the eurozone are meeting to discuss various issues afflicting the eurozone, especially concerns about Greece. Greece’s finance minister is expected, again, to ask for modification to the bailout terms. Tomorrow, EU leaders will meet as well. However, expectations for a solution to the current impasse are low.
As a result of the speculation and rumors, the euro is heading mostly lower. For now, many expect nothing to be determined. Instead, there are expectations that each side will lay out its plan. Many think that a Greek exit from the eurozone is inevitable, and many analysts and traders are already thinking of what such a scenario would look like, including the idea that Greece might adopt the US dollar as its currency and abandon the euro altogether.
At 11:37 GMT euro is back below the 1.13 level against the US dollar. EUR/USD is down to 1.1295 from the open at 1.1316. EUR/GBP is down to 0.7387 from the open at 0.7417. EUR/JPY is higher, though, gaining to 135.4040 from the open at 135.1120.

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