Markets Steady With Eyes on EU Finance Minister Meeting on Greece

Markets Steady With Eyes on EU Finance Minister Meeting on Greece

Markets are relatively steady in Asian session today following the steep move on Friday. Yen edged lower in initial trading but loss is limited. Meanwhile, dollar is trying to recover mildly against other major currencies. Main focus today will be on the meeting between Eurozone ministers in Brussels on Greece.

This is the third attempt this month to agree on a deal that would release the next tranche of bailout fund to Greece, and grant the country a two year extension on the fiscal adjustment program. After a marathon meeting last week, the finance ministers failed to reach any agreement due to some technical complications.

Nonetheless, French finance minister Moscovici said over the weekend that they are "very close to a solution" for Greece and "it would be irresponsible not to reach an accord given all the efforts that have been made on all sides."