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Daily Report: Dollar and Yen Lower on Greece Optimism, RBNZ on Hold
Dollar and yen are lower as risk aversion recedes mildly in Asia today as more investors agreed to join the Greek debt swap program ahead of tonight's deadline. It's reported that around 60% of the investors in Greek bonds eligible for the debt swap have agreed on the 'voluntary' restructuring. Greek government spokesman Yiannis Stavropoulos stated in an interview that "the information we have so far is positive". It's likely that the thresholds will be met, and collective action clauses would not be used. The program aims to lower the EUR 206b Greek debts by up to EUR 107B and is a precondition for the debt-ridden country to tap the new bailout fund worth EUR 130B
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