TOKYO: The euro maintained its momentum against the dollar Monday as speculators bet the bailout for Greece will be approved by the German parliament later in the day, despite some domestic opposition.
The single currency stood at $1.3456, compared with $1.3451 in New York. It bought 109.16 yen, also nearly unchanged from 109.22.
German lawmakers Monday were set to vote on a further 130 billion euros ($175 billion) in loans for Greece in exchange for new austerity measures and tighter European Union and International Monetary Fund oversight.
The market believes Germany's parliament will approve the package, ahead of similar steps to be taken in the Netherlands and Finland later in the week, said Masafumi Yamamoto, chief strategist at Barclays Capital in Tokyo.
"The euro's strength will likely continue," at least for now, he told Dow Jones Newswires. (AFP)
The single currency stood at $1.3456, compared with $1.3451 in New York. It bought 109.16 yen, also nearly unchanged from 109.22.
German lawmakers Monday were set to vote on a further 130 billion euros ($175 billion) in loans for Greece in exchange for new austerity measures and tighter European Union and International Monetary Fund oversight.
The market believes Germany's parliament will approve the package, ahead of similar steps to be taken in the Netherlands and Finland later in the week, said Masafumi Yamamoto, chief strategist at Barclays Capital in Tokyo.
"The euro's strength will likely continue," at least for now, he told Dow Jones Newswires. (AFP)