Eurozone deal brings relief in forex spot and options

Tim Carrington at RBS
Tim Carrington, RBS

Foreign exchange traders welcomed the set of proposals unveiled by European Union leaders in Brussels early yesterday morning to stabilise the debt crisis, expressing hope the package of measures will remove tail risk from the markets.

EU leaders agreed Greece's public debt should be reduced to 120% of GDP by 2020, with private investors taking a 50% cut to the face value of their bonds. Eurozone member states are to contribute up to €30 billion to the private sector involvement package and a

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