Markets
Euro pares gains vs dollar as Greek vote underway
NEW YORK : The euro briefly pared gains against the dollar on Wednesday as the Greek parliamentary vote on proposed aust
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NEW YORK: The euro briefly pared gains against the dollar on Wednesday as the Greek parliamentary vote on proposed austerity measures began and one ruling party deputy voted against the package.
The euro was last at $1.4410, up 0.3 percent on the day, but off the session peak of $1.4447, according to Reuters data. The session low posted at $1.4325.
"We should get a euro relief rally if (the vote) passes, as the sell-off just now reflects just how nervous people are that it might not pass," said Kathy Lien, director of research at GFT Forex. "Expect a lot of volatility and position adjusting in the meantime."
Copyright Reuters, 2011
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