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Euro falls after failed Greek parliamentary vote – AceTrader


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FXStreet (Barcelona) – The AceTrader Team shares the performance of FX majors, noting that Euro fell to a fresh 2-1/2 year low at 1.2142 after the failed Greek 3rd vote.

Key Quotes


“The single currency fell to a fresh 2-1/2 year trough on Monday after Greece’s PM Antonis Samaras failed to get his presidential candidate confirmed, triggering an early parliamentary election.”


“Greek government Presidential candidate secured 168 votes in final round, falls short of 180 minimum required.”


“Earlier in the day, the single currency traded with a firm bias in Asia and rose to session high at 1.2202 in European morning on active-short covering together with cross-buying of euro vs sterling. However, news of failed Greek vote triggered selling interest and price fell sharply to a 2-1/2 year low at 1.2142 in New York afternoon.”


“Versus the Japanese yen, despite rebounding strongly to 120.60 in Asian morning, the greenback met selling interest and fell sharply to an intra-day low at 120.18. However, dollar pared its losses and rose to an intra-day high at 120.72 in New York afternoon before stabilizing.”


“The British pound gained to session high at 1.5586 in Asia, however, cross-selling of sterling vs euro pressured the pair lower to 1.5535 in European morning. Cable met renewed selling at 1.5563 at New York open and tanked to an intra-day low at 1.5508 in New York afternoon.”