Greek deal led to rise of U.S. stocks and drop of the euro

Saving of Greece led to a sharp drop of the euro, which clearly shows how the investors evaluated the risk of keeping the country in the euro zone and the measures imposed by Germany. The agreement that was achieved today does not solve the problem of the Greek debt, but in the best case postpones it.

At the same time this agreement creates a precedent that could be used against other countries from the euro zone  with debt exceeding 100% of their gross domestic product, such as Portugal, Spain and Italy.

For foreign exchange markets Greece remains a risk factor in connection with the monetary union of the euro, although in the short term the stabilization of the situation in the country reduces political and economic risks.

Against this background the indexes in New York are strongly rising. Dow increased with 1.01%, up to 17,940 points. The Nasdaq has a growth of 1.17%,up to 5056 points. S & P 500 rose with 0.84% up to 2094 points.

However, USD is sharply rising and for this contributed the words of the governor of the Fed, Janet Yellen. According to her the US central bank will certainly begin to raise its interest rates before the end of this year.

The euro depreciated by 1.18% up to 1.1024 dollars. DXY increased with 0.71% up to 96.71.