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Comprehensive reform still needed from Greece – EU’s Dijsselbloem

FXStreet (Mumbai) - The European Union chief Dijsselbloem on Friday said the a comprehensive Greek deal is needed before the national could receive funds necessary to meet its obligations.

Dijsselbloem said there are still wide difference with regards to reforms between Greece and its international creditors and that Feb. 20 deal still remains the framework for talks. He further added that the Greece issue will be dealt with again at the regular meeting in May. Dijsselbloem said that time is running out and the responsibility of the progress lies mainly with Greece.

Overall, it appears no real progress has been made today over the Greek deal, something which was widely expected by the markets.

Gold drops to 50-DMA

Gold prices fell to 50-DMA located at USD 1190.89/Oz on Friday on hopes that the Eurogroup meeting will will ease the threat of a default in Athens.
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EUR/USD drops to 1.0820 on Eurogroup

The shared currency is now giving away earlier gains on Friday, dragging EUR/USD back to the 1.0825/20 band...
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