The euro gained for the fourth consecutive session on Tuesday as investors bet the Prime Minister of Greece George Papandreou will survive a confidence vote that could help the country avoid the inability to pay off their debts. While the euro through the resistant moving average 55-day, traders said the rise in the next euro may be limited because berbagaik Greek hurdles to be overcome, including parliamentary approval of the austerity measures is important to be decided on June 28.
Papandreou must win the confidence vote if he wants to secure support for spending cuts, tax increases and the sale of state assets next step needed to help 12-billion euros from the European Union and the International Monetary Fund. The announcement was expected at 21:00 GMT and the result is likely to bring the euro strengthened slightly or sharply corrected.
In afternoon trading in New York, the euro strengthened 0.6 percent against the dollar at the level of $ 1.43920 in the electronic trading platform after hitting a session high 1.44217. The average 55-day movement is in the range of $ 1.4413. Over the past four days, the euro has appreciated more than 2 percent against the dollar. The euro earlier reduces the rise after a survey showed German investor in June negative view about the euro zone's largest economy is in more than two years, due to Greece's debt crisis and the weakening of activity indicators in the future.
The Federal Reserve held a two-day monetary policy meeting ending on Wednesday, the first held since the U.S. central bank began to weaken U.S. economic data about a month ago.
Papandreou must win the confidence vote if he wants to secure support for spending cuts, tax increases and the sale of state assets next step needed to help 12-billion euros from the European Union and the International Monetary Fund. The announcement was expected at 21:00 GMT and the result is likely to bring the euro strengthened slightly or sharply corrected.
In afternoon trading in New York, the euro strengthened 0.6 percent against the dollar at the level of $ 1.43920 in the electronic trading platform after hitting a session high 1.44217. The average 55-day movement is in the range of $ 1.4413. Over the past four days, the euro has appreciated more than 2 percent against the dollar. The euro earlier reduces the rise after a survey showed German investor in June negative view about the euro zone's largest economy is in more than two years, due to Greece's debt crisis and the weakening of activity indicators in the future.
The Federal Reserve held a two-day monetary policy meeting ending on Wednesday, the first held since the U.S. central bank began to weaken U.S. economic data about a month ago.
No comments:
Post a Comment