The euro has lost ground versus both the dollar and sterling in forex trading this morning (January 29th), despite optimistic comments about the Greek recovery from the nation's finance minister.
Yannis Stournaras told BBC News that he believes the chances of the troubled Mediterranean nation leaving the single currency are now very slim and that "there is definitely a glimmer of hope – light at the end of the tunnel".
Last year, Athens decision-makers rushed through major reforms and austerity measures ensuring the country received its essential bailout money from international creditors, sparing the nation from defaulting on its massive public debt after its coffers ran dry.
Greece is far from out of the woods, however, as Eurostat revealed last week that it has the highest unemployment levels in Europe at 26.8 per cent, while its recession is the worst in modern history and has lasted for six years.
At 08:50 GMT, the euro was stable against the dollar at $1.345 and fell by 0.1 per cent versus the pound to £0.856.
Learn about the euro and forex trading at City Index.
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