Eurogroup President Jeroen Dijsselbloem said on Friday euro zone finance ministers may make a “major decision” when they hold an emergency session on Saturday to weigh the Greek proposal. Many in the market were optimistic, although there was a degree of caution about holding large bets going into the weekend. The euro fell to a seven-week low against the dollar as European Central Bank President Mario Draghi reiterated his commitment to providing unprecedented stimulus to the euro area.

The shared currency weakened versus all but one of its 16 major peers after Draghi said that the central bank increased emergency liquidity assistance to Greece on Thursday. Draghi said at a press conference that recent market uncertainty hasn’t changed the region’s economic outlook and that stimulus measures, including a €1.1 trillion bond- buying program, will push inflation back toward target.
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