IMF announces Greece fails to pay, request for a delay

FXStreet (Bali) - The IMF has announced that Greece failed to make its payment due Tuesday, and that it will consider, in due course, a Greek request for a payment delay.

During late US session, reports have emerged about the possibility that the Greek government could either modify its view to recommend the Greek people vote 'Yes' on July 5th referendum or even cancel it if talks resume and an agreement on past demands are met, according to the Maltese PM, confirmed by Greek sources.

The Eurogroup will hold another conference call on Wednesday to discuss Greece. The Eurogroup teleconference will start Wednesday at 11:30am local time.

Jul 1, 2015

Fed's Bullard: Higher rates should be used against macro bubbles

James Bullard, President of the Federal Reserve Bank of St. Louis, and a voting member for 2016, is giving a speech, noting that the Fed should use higher rates to protect against a macroeconomic bubble, adding that low interest rates tend to feed asset bubbles. Finally, Bullard also drew a resemblance between the tech stock bubble and today's SP500, noting that concerns have resumed, but companies in sector are stronger than in late 1990s.

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Jul 1, 2015

GBP/USD: Weakness persists, breaks below 1.57

GBP/USD saw a round trip on Tuesday, initially boosted towards 1.5770 after finding committed buyers off 1.57, but the London fix led to a sharp slide backk down towards those bids at 1.57, first hlding the price, however further selling just hit the GBP, and amid thin-liquidity in early Asia, the pair has hit a weekly low of 1.5683 now.

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