Forex traders are almost delirious with happiness today as eurozone leaders announced a deal to contain the sovereign debt crisis — at least for now. Private bondholders will be taking a nominal 50% haircut on Greek debt, and everyone seems happy about it.

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Read the rest of EUR/USD Surges Past 1.41 Level on Eurozone Deal (172 words)

It looks like the European leaders have reached consensus about some questions they were discussing during their meetings. The signs of progress in resolving Europe’s crisis were welcomed by traders and riskier currencies, including the South African rand, gained.(...)
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As the Europeans announce a debt agreement, the Canadian dollar is strengthening against the US dollar. It’s been more than a month since the loonie has reached this level against the greenback, but some think that the strength is more a function of general greenback weakness today.

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The South Korean won climbed today on the positive outlook for the economy of Asia’s nations and the signs of progress in making the plans to resolve the sovereign debt issues in Europe.(...)
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The New Zealand dollar gained today, extending its rally for the second day, after the Reserve Bank of New Zealand key its target interest rate unchanged, but suggested that an increase is possible in the future.(...)
Read the rest of RBNZ Signals About Possible Interest Rates Hike, NZD Higher (181 words)

The inflation report that showed a slowing inflation weakened the Australian dollar. But will the currency extend its drop? That’s a definite possibility in case the central bank would cut the interest rate next month.(...)
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The Great Britain pound declined today versus the US dollar as the uncertainty about the outcome of the European Union summit made traders prefer safer currencies, shunning the sterling that is also weakened by the problems in Britain itself.(...)
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