The US dollar rallied yesterday and continued to gain on the euro today, reaching a new multi-year high. The greenback also was strong against the Great Britain pound but slipped versus the Japanese yen.
The US currency gained on the currency of the eurozone for the third straight session due to concerns about the outcome of the Greek elections. Experts are concerned that in case of victory of the opposition Syriza party the bailout package or even the place of the Greece in the eurozone will be in danger. Obviously, such worries are very negative for the euro, allowing the dollar to benefit from its role of a safe haven.
Meanwhile, optimism about the US economy added to the appeal of the greenback. This year, the dollar gained against all other 31 most-trade currencies for the first time on a record.
EUR/USD fell from 1.2151 to 1.2140 as of 3:34 GMT today, trading near the lowest level since July 2012. GBP/USD dropped from 1.5559 to 1.5514 during the previous trading session and remained closed to this level today. USD/JPY declined from 120.66 to 120.48.
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Dollar Gains on Euro for Third Session
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