Details Of €120 Billion Greek Bailout Send EURUSD Higher

Wondering what lit a fire under the EURUSD? Wonder no more, courtesy of Reuters:

  • New bailout for Greece likely to total about EUR 120bln according to Eurozone sources
  • New bailout may comprise EUR 30bln from private sector, EUR 30bln from privatisations, up to EUR 60bln from EU/IMF
  • Remaining loans from initial Greek bailout would be disbursed alongside new bailout, according to Eurozone sources

And yes, as predicted the final amount will be far greater than previous expectations of under €100 billion.