Forexpros – The euro shot up against the dollar on Tuesday as word broke that European officials approved a EUR130 billion bailout package for Greece, which will steer the country away from a messy default.
In Asian trading on Tuesday, EUR/USD hit 1.3277, up 0.26%, gaining from a session low of 1.3187 and off from a high of 1.3293.
The pair was likely to test technical support at 1.3119 and resistance at 1.3362.
Greece will receive the EUR130 billion that will help cut its debt-to-GDP ratio to 121% by 2020, down from current levels of around 160%.
The news sent the unit rising after slumping earlier in the session.
The euro, meanwhile, was up against the pound and up against the yen, with EUR/GBP gaining 0.32% to 0.8381 and EUR/JPY up 0.35% at 105.81.
The Greece bailout deal will continue to serve as the market’s top weather vane on Tuesday.
In Europe, Switzerland is to produce government data on trade balance while the U.K. is to release official data on public sector net borrowing.
Eurozone consumer confidence figures are due out as well.
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