RTRS: Euro up on expectations for Greek austerity plan
The euro moved higher against the dollar on Wednesday on the expectation that the Greek government will win approval on Thursday for legislation detailing specific implementation measures for an austerity package.
Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan in a vote on Wednesday.
A positive vote on Thursday will open the way for Greece to access to international funding to avoid default.
The euro EUR= was last at $1.4421, up 0.4 percent on the day, and well off the session low of $1.4325, according to Reuters data. The session high posted at $1.4447.
An options barrier with offers to sell is said to be at $1.4450.
The dollar was last at 80.84 yen, down 0.3 percent on the day, after falling as low as 80.54 yen JPY=. (Reporting by Nick Olivari; Editing by Padraic Cassidy)
