European session: the euro retreated from reached high

The euro declined on concern it will require further political action to resolve the region’s debt crisis even after Greece won a second international bailout.

The common currency fell as Luxembourg Prime Minister Jean-Claude Juncker said the deal includes a 53.5 percent writedown for investors in Greek bonds, greater than a previous arrangement.

An analysis by the International Monetary Fund and European officials suggested Greece’s debt may still balloon to 160 percent of its gross domestic product in a worst- case scenario.

Euro-area finance ministers awarded 130 billion euros in aid to Greece, and reached an accord for greater debt relief from investor representatives in an exchange offer meant to tide the nation past a bond redemption next month.

The euro gained 0.4 percent in the past week as optimism built that Greece would win more international support, according to Bloomberg

EUR/USD: the pair decreased in area $1.3200 after showed high in $1,3290 area.

GBP/USD: the pair decreased below $1,5800.

USD/JPY: the pair was limited Y79,50-Y79,85.

At 1500GMT, the EMU Feb flash consumer morale data is released.