BLBG:Euro Drops From Highset In Month Versus Dollar After Greek Vote
The euro fell from the strongest in almost a month versus the dollar.
The 17-nation euro snapped four days of gains after reaching the highest since May 22 on optimism pro-bailout parties would form a coalition government following Greece’s weekend election.
The euro fell 0.1 percent to $1.2629 at 9:42 a.m. London time, after strengthening as much as 0.9 percent to $1.2748. The 17-nation common currency was 0.4 percent stronger at 99.92 yen. The Dollar Index (DXY) advanced 0.2 percent to 81.752.
Poll winner Antonis Samaras’s New Democracy party and the Pasok party won enough seats to control the 300-member parliament if they were to join forces in a coalition government, easing concern Greece would leave the currency bloc.
To contact the reporter on this story: Keith Jenkins in London at kjenkins3@bloomberg.net
To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net
