Money in Motion

Euro Gets a Boost, Citigroup Is Glum on Greece


The European Central Bank chief lifts the euro and the Philippines go easy - it's time for your FX Fix.

European Central Bank President Mario Draghi pledged to do whatever it takes to preserve the euro zone, and the eurojumped. [CNBC]

Risk-sensitive currencies followed the euro higher after Draghi's comments. []

Greece reached an agreement in principle with international inspectors on nearly $14 billion in austerity measures. [WSJ]

Still, Citigroup's chief economist said there is a 90 percent chance of a 'Grexit' - Greece leaving the euro zone - in the next 12 to 18 months. []

The Philippine central bank unexpectedly cut interest rates 25 basis points, citing receding inflation risks. [RTTNews]



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