MW:Dollar gains versus euro on Greek debt concerns
By Lisa Twaronite, MarketWatch
TOKYO (MarketWatch) — The dollar edged up against most major counterparts Wednesday, getting a lift against the euro on concerns about Greece’s sovereign debt woes.
The euro EURUSD -0.13% faded to $1.4411 from $1.4463 in late North American trading on Tuesday. See real-time currency quotes and tools.
The euro “has underperformed after rejecting the 1.45 level, trading with a heavy bias ever since,” said Sue Trinh, senior currency strategist at RBC Capital Markets.
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“The underperformance also comes amid a deteriorating political situation in Greece and ahead of today’s Greek parliament vote on austerity measures,” she said in a note to clients.
A Greek lawmaker resigned Tuesday from the governing Socialists on Tuesday to protest the austerity push of Prime Minister George Papandreou.
“While a yes vote is not a done deal, we expect the government to squeeze the vote through, which could generate a relief rally in the euro on the day,” she added.
The dollar index DXY +0.15% , which measures the performance of the U.S. unit against a basket of six currencies, rose to 74.531, from 74.354 late Tuesday.
The British pound GBPUSD -0.03% slipped to $1.636, from $1.6387 late Tuesday, while the Australian dollar AUDUSD +0.18% traded at $1.0697, compared with $1.0694. Read RBA governor statement
