EUR/USD: EURO declines after yesterday’s surge

The pair EUR/USD is being corrected at the Forex currency market on Friday morning after yesterday’s surge.By 9.10 Moscow time the Euro is at 1.4387 against yesterday’s closing level of 1.4423.

At the Summit of the European Group which ended yesterday, leaders of the major countries approved a new package of financial aid to Greece in the amount of 109 billion Eur. Athens will also receive support from private investors who will exchange existing bonds for the similar ones but with the longer period of circulation.

It is possible, however, that international rating agencies will consider this decision as an acknowledgement of the partial default of Greece.In the U.S., President Barack Obama continues to negotiate a plan to reduce budget deficit.The day is not going to be very eventful in terms of the macro-statistics; therefore investors will be guided by external signals.