EUR/USD
The euro stays above 1.10 on Thursdays after the government of Greek Prime Minister Alexis Tsipras sought a three-year bailout loan of at least 53.5 billion euros ($59.2 billion), in a last-ditch effort to keep the country in the euro. In exchange, it offered a package of reforms and spending cuts, including pension savings and tax increases, similar to the one presented by creditors last month. The proposal was submitted late Thursday and will be presented to the Greek Parliament Friday. It is set to be discussed at a summit of European Union leaders Sunday to determine whether Greece will get a new bailout, or be forced to leave the single currency.
GBP/USD
The pound was moderately higher 0.21% to 1.5393 in a widely expected move, after the Bank of England said on Thursday that it was holding the benchmark interest rate at 0.50%, where it has been standing since March 2009. The central bank also said it was to maintain the stock of asset purchases financed by the issuance of central bank reserves at £375 billion.
USD/JPY
The U.S. dollar rose against the yen on Thursday, pulling away from the previous session's one-and-a-half month lows as Chinese shares closed sharply higher, easing demand for safe haven assets.
