The euro remained slightly higher against the US dollar and sterling on Wednesday as there was an air of optimism around Greece and the general consensus is that a deal is that a bailout deal is growing closer. However, hopes for any sort of deal faded after Greece’s international creditors refused to accept some of Athens’s most up-to-date proposals. Greek Prime Minister Alexis Tsipras criticised the move ahead of talks with the European Central Bank (ECB) and the International Monetary Fund (IMF) but a deal is still expected in the coming days, as time truly is running out.
This morning we saw consumer confidence data from Germany. Other than this there are no significant data releases from Europe. Investors will be watching the situation in Greece unfold.