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Forex: Monday’s review
Yesterday the euro fell from the strongest in almost a month versus the dollar as German Chancellor Angela Merkel said the new Greek government shouldn’t be granted additional leeway on the terms of its international bailout.
Concern Greece would be forced to leave the euro ebbed after Antonis Samaras’s New Democracy party and the Pasok party won enough seats in yesterday’s vote to control Greece’s 300- member parliament should they join forces in a coalition government.
The 17-nation currency weakened as Spanish 10-year bond yields rose above 7 percent, adding to concern the region’s economic turmoil was spreading to the currency bloc’s largest economies.
The Dollar Index, which IntercontinentalExchange Inc. uses to track the greenback against the currencies of six U.S. trading partners, added 0.4 percent to 81.936. The gauge earlier declined to 81.161, the lowest since May 22.
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