New York Session – January 31, 2012 4:13 PM

The dollar is trading mixed and risk sentiment fell off the highs seen early in the session after weaker than expected U.S. economic data and renewed concerns about Greece. There has been a lack of positive news on Greek PSI despite officials having continually expressed their optimism on the progress of the debt talks and their expectations that a deal will be reached soon. Greek Finance Minister Venizelos warned that time is of the essence and that the Greek Parliament needs to vote on the debt swap terms by February 13. He also noted that private sector creditors could take a loss of more than 70% of the NPV of their bonds. The euro was under pressure and traded lower against most of the majors with EUR/USD tumbling to session lows around the 200-hour sma. Full text »

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