The Euro backed off the previous session's 1-month high against the US Dollar during the Asian session on Wednesday when relief about a new debt deal for Greece transformed into widespread unease about the looming US fiscal crisis.
While a plan to cut Greek debt and allow the nation to secure more financial aid in order to avoid a chaotic default has been approved, skepticism grew over the lack of details on how the Greeks plan to implement the reforms needed to meet these targets.
Meanwhile, The US Congress pushed toward compromise on Tuesday on a deal to avoid looming tax increases and spending cuts coming up next year. No agreement has been reached just yet, despite growing pressure less talk and more action.
While a plan to cut Greek debt and allow the nation to secure more financial aid in order to avoid a chaotic default has been approved, skepticism grew over the lack of details on how the Greeks plan to implement the reforms needed to meet these targets.
Meanwhile, The US Congress pushed toward compromise on Tuesday on a deal to avoid looming tax increases and spending cuts coming up next year. No agreement has been reached just yet, despite growing pressure less talk and more action.
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