EUR/USD Rallies to Near 1.10 as Greece Makes Bailout Move

The euro strengthened on Thursday, briefly rising above $1.10 for the first time in a week, as the Greek parliament approved a second set of reforms required to start negotiations with lenders in a bid to avert bankruptcy.

The greenback stalled against other major currencies despite expectations that the U.S. Federal Reserve would raise interest rates by year end.

Of Athens’ latest move toward a bailout, “it’s perceived as a positive for the euro. Greece might even be perceived as taking the initiative to revive talks with creditors,” Paul Christopher, chief international strategist at Wells Fargo Advisors in St. Louis.

CNBC

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