Investing.com - The euro firmed against the U.S. dollar in morning U.S. trade Friday, easing up from a 3 month low, as Greek political leaders agreed to keep Greece in the euro zone.
EUR/USD hit 1.2932 during U.S. afternoon trade, falling 0.03%.
The pair was likely to find support at 1.2886, the low of January 20 and resistance at 1.3006, Wednesday’s high.
The euro found support as Antonis Samaras, leader of Greece’s New Democracy Party, reported that the four rival parties have accepted terms of no exit from the euro region..
On Wednesday, Alexis Tsipras, the head of Greece’s second-biggest party Syriza, gave up his attempt to form a new government, pushing the debt-stricken country closer to its second election in a few weeks.
In other news, Friday, JP Morgan Chase & Co reported a USD2 billion trading loss lifting the greenback as investors sought the safety of the U.S. dollar.
Elsewhere, the euro traded higher against the pound with EUR/GBP moving higher 0.22%, to hit 0.8030.
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Forex - Euro firms as Greece decides to retain euro zone membership
Published 05/11/2012, 07:30 AM
Updated 05/11/2012, 07:32 AM
Forex - Euro firms as Greece decides to retain euro zone membership
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