TOKYO: The Japanese yen traded higher against major currencies in Asian deals on Thursday, as investor sentiment faded on news that the European Central Bank has suspended accepting Greek government bonds as collateral for financing to the country’s banks.
The ECB noted that it does not think “a successful conclusion of the program review” for Greece bailout.
However, Greek banks could have access to funds through the ECB’s emergency lending program. It carries higher interest rate and the credit risk of the loans stays on the books of the Greek central bank.
