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Deposit tax may exempt Cypriot savers under €20,000

FXstreet.com (Barcelona) - According to Nick Malkoutzis, deputy editor of Greece's daily English language newspaper, Kathimerin, "Cyprus state TV (RIK) reports revised deposit tax would exempt savers with deposits under €20,000..." Story developing.

Forex: Euro pretends recover, but sentiment is looming

After declining 1% on the day, the EUR/USD has attempted to recover ground from the huge gap traded in the Monday opening, but sentiment was looming and despite it rose from the 1.2880 area, the EUR/USD remains more than 100 pips below Friday's close.
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Forex: EUR/JPY limited below 124.00 and 50% Fibo

EUR/JPY is last at 123.44, off yesterday's fresh 7-day lows at 121.55, following news on Cyprus bail-out, that would imply a levy on bank depositors, a measure markets in general didn't like as risk of contagion might spread across EZ periphery troubled countries as possible next targets. The cross printed an intraday double low around the mentioned lows level and recovered circa 50% Fibo retrace of latest leg down 126/121.5 at 123.80, printing weekly highs so far at 123.95, still unable to fill the weekly opening gap.
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