The US dollar suffered a poor week, depreciating against most major currencies. Wavering data coming from the US economy intensified speculations about a Fed rate hike in September, rather than in June – as was the talk until recently. The FOMC meeting on Wednesday will be awaited with great attention and focus by all market participants. The EUR/USD edged up 150 pips, the GBP/USD appreciated by 290 pips, the AUD/USD added 110 pips to its value, while the USD/JPY ended the week 224 pips down.
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According to Greece’s Minister of Interior Nikos Voutsis, the country won’t be able to pay its upcoming payment to the International Monetary Fund next month. In his statement on Sunday,Voutsis underlined that without a deal with its creditors, Greece is likely to become insolvent.