Monday saw the value of the shared currency of the European Union advance toward its top price against the world's reserve currency after the parliament of debt-hobbled Greece voted up austerity measures, Reuters reports.
The Aegean nation is waiting on the equivalent of $173 billion in euros to help it stave off defaulting on loan obligations, one of which is due in the middle of next month. The international aid represents Greece's second bailout since June 2010 as the sovereign debt crisis has victimized the nation's banks, markets and public finance system.
"We think that Greece is going to get their money by March 20, but we still think the euro's going to sell off," senior currency strategist David Watt with RBC Capital Markets in Toronto told the news service. "Most people are just keeping their heads down, they're doing things when they have to do it."
The focus of attention is set to shift to Wednesday when finance ministers from the other euro zone nations convene in Brussels.
The value of the embattled euro was hurtling toward its top price since late last year against the greenback, according to Bloomberg. The monetary unit also was climbing against the English pound and the Japanese yen.
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