Investing.com - The euro fell against the dollar in Asian trading on Monday as Greek political parties debated whether or not to accept E.U. austerity measures with a deadline looming a day way.
In Asian trading on Monday, EUR/USD hit 1.3113, down 0.34%, firming from a session low of 1.3108 and off from a high of 1.3131.
The pair was likely to find support at 1.3067, Friday's low, and resistance at 1.3131, Monday's earlier high.
Greece must agree to austerity measures if it wishes to tap bailout money down the road and although the market feels the country will agree to terms, proximity to the deadline has investors on edge.
"The belief is that a deal will get over the line, more than likely at the last possible moment. That's why we're seeing some renewed buying from the lows," said David Scutt, a trader at Arab Bank in Sydney, according to Reuters.
Furthermore, Greece has yet to agree to a restructuring deal with its private creditors, also a requirement if the country wants to tap bailout money.
The euro, meanwhile, was down against the pound and up against the yen, with EUR/GBP losing 0.30% to trade at 0.8297 and EUR/JPY falling 0.50% at 100.29.
On Monday, the Swiss National Bank will publish a report on foreign currency reserves, while the U.K. will publish industry data on house price inflation, a leading indicator of the housing industry’s health.
In the eurozone, a report is to be published by Sentix on its investor confidence index, a key gauge of economic health. In addition, Germany is to publish official data on factory orders.
In Asian trading on Monday, EUR/USD hit 1.3113, down 0.34%, firming from a session low of 1.3108 and off from a high of 1.3131.
The pair was likely to find support at 1.3067, Friday's low, and resistance at 1.3131, Monday's earlier high.
Greece must agree to austerity measures if it wishes to tap bailout money down the road and although the market feels the country will agree to terms, proximity to the deadline has investors on edge.
"The belief is that a deal will get over the line, more than likely at the last possible moment. That's why we're seeing some renewed buying from the lows," said David Scutt, a trader at Arab Bank in Sydney, according to Reuters.
Furthermore, Greece has yet to agree to a restructuring deal with its private creditors, also a requirement if the country wants to tap bailout money.
The euro, meanwhile, was down against the pound and up against the yen, with EUR/GBP losing 0.30% to trade at 0.8297 and EUR/JPY falling 0.50% at 100.29.
On Monday, the Swiss National Bank will publish a report on foreign currency reserves, while the U.K. will publish industry data on house price inflation, a leading indicator of the housing industry’s health.
In the eurozone, a report is to be published by Sentix on its investor confidence index, a key gauge of economic health. In addition, Germany is to publish official data on factory orders.