Euro Rises as Greek Parliament Approves Bailout
The euro advanced today, reaching the highest price in more than four months against the Japanese yen, after Greece won parliamentary approval for another bailout and on anticipation of positive macroeconomic data.
Acting Parliament Speaker Grigoris Niotis said that 213 Greek Parliament members voted for the bailout and 79 were against it. Now, the indebted country may receive the €130 billion rescue package. Economists predict that tomorrow’s report from Markit Economics will show an increase of German purchasing managers’ indexes for both manufacturing and service sectors.
EUR/USD rose from 1.3227 to 1.3265 as of 9:37 GMT and the daily maximum was 1.3285 — the highest rate since March 8. EUR/JPY was up from 110.72 to 111.35, while the intraday high of 111.36 was the highest since October 31.
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Earlier News About the Euro:
- Euro Drops as China Concerns Rise, But Recovers (2012-03-20)
- Euro Turns Lower in Forex Trading (2012-03-19)
- EUR/USD Goosed Higher On General Optimism (2012-03-16)
- Euro Mostly Flat on Disappointing Data (2012-03-15)
- Euro Struggles as Forex Traders Wonder Who's After Greece (2012-03-13)