News Headline Summary

Euro zone ministers and IMF reach deal that interest above financing costs on bilateral loans to Greece will fall to 50bps from 150bps once Greece reaches 4.5% primary surplus, according to a source

- Contribution to Greek debt reduction from ECB foregoing profits on its Greek bond portfolio to be EUR 11bln.

Update details:

- Note, these comments are from sources so we still await any official commentary on the details regarding any Greek deal.
- As a guide last week we saw comments hit the wires at approx. 0330GMT.

Reaction details:

- EUR/USD immediately moves higher by 7 pips from 1.2987 to 1.2994, before paring back in the accompanying 3 minutes.

Print 23:15, 26 Nov 2012 - Asian News - Source: Newswires