Posted by Mark ThompsonThe euro edged higher in foreign exchange trading today (November 2nd) to $1.3715.According to Reuters, the change is an upturn following a recent decline for the multi-nation currency after it hit $1.4248, its highest level in seven weeks, last Thursday.Commenting on the outlook, senior analyst at the Bank of Tokyo-Mitsubishi UFJ, Minori Uchida, stated Greece's decision to call a referendum on the debt-reduction plans called for by the European Union (EU) are impacting the euro."The chances of the EU deal being rejected are very high. If that happens we will be back to square one," he said.Mr Uchida added the "real danger" will be caused by the increased pressure placed on Italy while a decision from Greece is awaited.Forex dealers may also be impacted by a decision from the US Federal Reserve today, which may include a fresh batch of quantitative easing in the nation.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site