TOKYO: The safe haven currencies such as the yen and the US dollar weakened against their major currencies in the Asian session on Friday, as risk appetite rose, amid a rebound in Chinese stocks for a second day and optimism concerning Greece.
Greece inched closer to a deal with its creditors. The Hellenic nation has submitted a new bailout reform plan to its creditors in a last-ditch effort to save its economy as well as its place in the eurozone.
In the proposal, the Greek Prime Minister Alexis Tsipras submitted a three-year bailout loan of 53.5 billion euros ($59.2 billion).
The Greek government said the proposals would be scheduled for an emergency vote in parliament tonight, ahead of Sunday’s emergency summit of all 28 EU leaders.
Early buying interest was also generated by optimism about the deal between Greece and its creditors after the debt-laden nation promised to implement pension and tax reforms to win fresh aid.
