Monday saw the shared currency of the European Union near its two-month trough against the U.S. dollar amid high anticipation for a meeting of European leaders' to discuss how to keep Greece within the euro zone, Bloomberg reports.
The 17-nation monetary unit was essentially even against most of its other major counterpart currencies. The Brussels meeting is set for the afternoon and arrives after Greek Prime Minister Antonis Samaras collected enough political support to approve the budget for next year.
"The key issue will be what comes out of the Eurogroup meeting. If the tranche is released it is positive for risk and we should see a reasonable bounce in the euro, given the pessimism that's been built into the markets about the euro area," FX strategist Raghav Subbarao with Barclays told Reuters.
Samaras told Greek television that 167 of 300 parliamentarians endorsed his budget while 128 voted against it. Four were in attendance and did not cast votes.
The Aegean nation is prepared to redeem 5 billion euro-worth of treasury bills by later this week and is in need of bailout aid, according to Reuters.
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