Koruna Falls First Day in Four as Greece Erodes Risk Appetite
The koruna weakened the first time in four days on speculation Greece may run out of time to reach a deal with creditors, eroding demand for riskier emerging-market assets.
The Czech currency depreciated as much as 0.6 percent and traded less than 0.1 percent weaker at 24.945 per euro by 4:35 p.m. in Prague. The PX equity gauge rose 0.2 percent to 1,011.30 after dropping as much as 1.4 percent earlier today.
European leaders stepped up pressure on Greek politicians to meet the conditions of a 130 billion-euro ($171 billion) bailout, saying time was running out, while a gathering of Greek political leaders was delayed until tomorrow as they struggled for a unified response.
To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net
To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net
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