FXStreet (Mumbai) – The euro was heavily sold-off, kicking-off Asia nearly 2% lower following the Greek referendum results which reflected that Greek voters said a resounding around 60% ‘No’ vote to further austerity imposed by the country’s creditors in the referendum on Sunday. While risk-off moods backed worries over Greece’s future in Euro zone dominated across the Fx board with most Asian pairs relatively lower.
Key headlines in Asia
Dominating themes in Asia – centered on JPY, AUD, NZD
Greek referendum results stole the show in early Asia, fuelling risk aversion across the board while lifting the demand for safe-havens such as gold, yen and so on. The European currency emerged the biggest loser following the results and a fresh sell-off was triggered dragging EUR/USD to weekly lows at 1.0970.
The major although recovered more than half its slide and climbed higher in a bid to fill in the overnight bearish gap.