EUR/USD
The euro continued its extended rally against the dollar moving to a 10-week high, as Greece offered its most significant concessions since heated negotiations began with its trio of creditors in February. In a meeting with the Brussels Group, its creditors from the International Monetary Fund, the European Central Bank and the euro zone, Greece proposed it’s most strict reform measures from Syriza government. Athens leaders are hoping to reach an interim deal to unlock critical aid before a €750 million payment is due to the IMF on May 12. Greece owes the IMF an additional €200 million on May 6. Greece Prime Minister Alexis Tsipras is willing to step in during negotiations that are expected to last through the weekend if necessary, an Athens official told in a report.
GBP/USD
The dollar remained moderately lower against the pound on Thursday, after mostly positive U.S. economic reports as the Federal Reserve's latest policy statement continued to weigh on the greenback.
USD/JPY
The yen rose sharply as the Bank of Japan kept monetary policy steady on Thursday in an 8 to 1 board vote, which followed the U.S. Federal Reserve holding steady overnight. The Bank of Japan refrained from boosting monetary stimulus even as it pushed back its forecast for reaching a 2% inflation target, ascribing the delay to the tumble in oil prices. The central bank kept a plan to expand the monetary base at an 80 trillion yen ($673 billion) annual pace, as forecast by most economists. The BOJ cut its growth and price estimates for the fiscal year through March, now foreseeing hitting the inflation goal around the April-to-September period of 2016.
