The Euro spiked after Yanis Varoufakis resigned

News that Yanis Varoufakis has resigned as Greece’s finance minister has seen the euro surge over the past 30 minutes.

The EUR/USD currently buys 1.1070 having hit a high of 1.1082 at 4pm in Sydney. Earlier in the session the pair had traded as low as 1.0970.

The gains against the US dollar are being replicated in other currency pairs. The EUR/JPY, often seen as a barometer of investor sentiment, has risen to 135.50 having traded at 1.3376 earlier in the session, while the EUR/CHF now sits at 1.0426. Before Varoufakis’ announcement it has been as low as 1.0360.

Here’s the 5-minute chart of the EUR/USD today.

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