Dollar Demand Will Increase on Greek Debt Crisis, FXPro Says
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Investors “will favor the dollar” as a haven amid speculation Greece will default on its debt, Simon Smith, chief economist at currency broker FXPro Group Ltd., said in a Feb. 17 interview in Singapore.
Finance ministers from the 17 euro-area nations will meet in Brussels today to decide on 130 billion euros ($172 billion) in aid to Greece. Prime Minister Lucas Papademos said on Feb. 18 his country found all the extra cuts needed to lower spending by 325 million euros to secure a second bailout package aimed at averting the region’s first sovereign default.