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Forex - EUR/USD holds steady at 3-month lows

Published 07/21/2015, 02:22 AM
© Reuters.  Euro hovers at 3-month trough vs. dollar in cautious trade
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EUR/GBP
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Investing.com - The euro held steady at three-month lows against the U.S. dollar on Tuesday, as news of Greece's fresh bailout deal last week failed to lend solid support to the single currency and as trading volumes were expected to remain thin with no major data expected from the U.S.

EUR/USD hit 1.0812 during late Asian trade, the session low; the pair subsequently consolidated at 1.0826.

The pair was likely to find support at 10782, the low of April 24 and resistance at 1.0908, the high of July 17.

The euro failed to hold on to gains after Greek banks reopened on Monday following a forced 3-week closure, while restrictions on cash withdrawals remained in place.

Also Monday, Greece repaid the totality of its arrears of about €2.0 billion to the International Monetary Fund. "Greece is no longer in arrears to the IMF," the Fund's spokesman Gerry Rice announced on Monday.

Athens had fallen into arrears with the IMF on June 30 after the country missed a €1.6 billion payment.

"The Fund stands ready to continue assisting Greece in its efforts to return to financial stability and growth," Rice added.

The Greek Parliament was scheduled to vote on further austerity measures on Wednesday.

The euro was also steady against the pound, with EUR/GBP at 0.6950.

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