The euro became loose near a two-month low versus the greenback on Tuesday and with an outlook clouded by the Parliament of Greece that voted the steps of austerity needed to improve the situation of the country. Traders stated that the market was in a standby mode regarding the US presidential elections on Tuesday. Opinion polls concerning the elections stated the fact that the challenge between Barack Obama and Mitt Romney is very close, but president Obama has a small advantage in various states. The euro currency eased with 0.1% to $1.2788 and remained to a level of $1.2767 set by the trading platform of EBS and reached the lowest level in the last two months.
The latest decline forced the euro out of the $1.2800/3200 trading level gained since the middle of September. The support has become around $1.2741, a level that represented approximately 38% reversal of the euro’s July to September rally. The Parliament of Read more »