Corporate foreign exchange news

Dollar up against euro

Monday, 27 June 2011 08:56:27 GMT

Published by Jamie Jemmeson
The dollar climbed for the fourth day in a row against the euro in global forex trading today (June 27th), advancing versus 15 of its major peers ahead of a Greek vote on austerity measures this week.
Currency strategist at the Royal Bank of Scotland Group in Sydney Greg Gibbs told Bloomberg that the greenback is "obviously benefiting" from the eurozone crisis.
Greece must approve budget cuts of €78 billion (£69 billion) before EU ministers will issue a bailout package next month.
The dollar was up to $1.4111 against the euro by 09:45 local time in Tokyo this morning, while the single currency dipped to 114.01 yen from the 114.13 seen on June 24th. On Friday, it hit a record low against the Swiss franc, reaching 1.18064.
As the news source observed, failure to push through Greek prime minister George Papandreou's austerity plan could result in the eurozone's first sovereign default.
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