The Euro US Dollar, EUR USD, exchange rate, on Wednesday, December 14, was trending around 1.06, while the US Dollar Euro (USD EUR) exchange rate traded around 0.94.
Meanwhile, the Euro Pound (EUR GBP) exchange rate traded around 0.83, while the Pound Euro (GBP EUR) exchange rate trending in the region of 1.19.
Support for the Greek bailout in Eurogroup members such as Germany and Finland is waning, so officials are desperate to get the Fund on board in order to lend credibility to the rescue deal.
However, with the International Monetary Fund and Eurogroup still clearly divided, this seems unlikely. This is weighing on the Euro exchange rates today.
The IMF has not been involved in the latest €86 billion bailout of Greece due to major disagreements between the Fund and Eurogroup regarding the sustainability of the Hellenic nation’s debt burden.
The IMF has long pressed for debt relief, while Eurogroup ministers, in particular those from Germany, have been firmly against the notion.
