Forex - Euro hurt by Greek worries; safe-haven bid boosts dollar

Posted by Forexsq 1120 days ago (
img forexsq - The euro fell to a two-month low against the dollar on Tuesday, with the outlook for the single currency clouded by uncertainty over a parliamentary vote in Greece on budget and labour reforms.

Investors also headed for the safe-havens of the dollar and the yen with one eye on Tuesday's U.S. presidential election, which looked too close to call.

Opinion polls show Barack Obama and Republican challenger Mitt Romney in a dead heat, although the president has a slight advantage in several swing states.

The euro shed 0.2 percent to trade at $1.27635 on trading platform EBS, its lowest level in two months. That was well below its Sept. 17 high of $1.31729 struck after the European Central Bank pledged to buy government bonds of struggling euro zone countries.

The latest decline has pushed the euro out of the $1.2800/3200 trading range it has held since mid-September. Immediate support is seen around $1.2741, the 38.2 percent retracement of the euro's July to September rally. forex

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