Investing.com - The euro held steady near two-month lows against the U.S. dollar on Monday, as investors still remained cautious after the conclusion of a third bailout deal for Greece last week.
EUR/USD hit 1.0820 during late Asian trade, the pair's lowest since May 17; the pair subsequently consolidated at 1.0838.
The pair was likely to find support at 1.0817 and resistance at 1.0908, Friday's high.
Greek banks were set to reopen on Monday after a forced 3-week closure but restrictions on cash withdrawals were still to remain. In a decree Saturday, the Greek government kept the daily cash withdrawal limit at €60 but added a weekly limit of €420.
The decree came on the same day as Greece's coalition government swore in its new, reshuffled cabinet. Five prominent dissidents from the Syriza party, the senior coalition party, were replaced.
On Friday, German lawmakers voted in favour of opening discussions on Greece's third bailout and the European Union decided to release a short-term loan of €7.16 billion to help Greece pay back a loan due Monday to the European Central Bank.
The Greek Parliament was scheduled to vote on further austerity measures on Wednesday.
Meanwhile, demand for the dollar remained supported after upbeat data on Friday fuelled further expectations for a U.S. rate hike in the near future.
Data on Friday showed that the U.S. consumer price index rose 0.3% in June, while consumer prices ticked up by 0.1% last month on a yearly basis.
A separate report showed that U.S. housing starts rose 9.8% to 1.174 million units in June, compared to expectations for an increase of 6.2%.
U.S. building permits rose 7.4% to 1.343 million units last month, confounding expectations for a 11.8% drop.
The euro was also steady against the pound, with EUR/GBP at 0.6947.