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Greek Relief Rally Fades, G20 Summit Looms

Monday, 18 Jun 2012 | 8:11 AM ET

The euro gives back gains as post-election euphoria fades, and risk-on currencies follow — it's time for your FX Fix.

A victory for pro-bailout parties in the Greek election lifted the euro, but it quickly fell back on worries about dangerously high Spanish bond yields. [CNBC]

Both Spain and Italy saw their borrowing costs rise despite investors' relief at the results of the Greek election. [CNBC]

The Australian dollar and British pound also slipped, and the dollar and yen rose, as the post-election relief faded and attention turned to this week's G20 meeting. [FT]

Denmark's central bank head said the Danish krone is facing severe upward pressure as investors seek safe havens, and warned that negative interest rates could be in the cards. [FT]

World leaders at the G20 summit will be piling pressure on Europe to develop a lasting strategy to save the euro. [Reuters]

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