Dollar Jumped against euro as Concerns Over Greece

NEW YORK – The dollar surged to the highest in almost two months against the euro on Monday (Tuesday morning GMT), as renewed concerns about Greece’s debt crisis and ahead of the U.S. presidential election on Tuesday.
At 2200 GMT Tuesday (05:00 GMT), the euro was trading at 1.2791 dollars, after falling in the morning to the position of 1.2767 dollars, its lowest level since September 11.
The European currency was quoted at 1.2835 dollars around 2100 GMT on Friday.
The euro also weakened against the yen, falling to 102.69 yen from 103.30 yen on Friday, while the dollar fell to 80.28 yen from 80.47 yen.

Dollar, Euro, and Yen

The dollar, considered a safe haven in times of uncertainty, rose as Greece’s sovereign debt debacle attract growing concern.
Alpari Analyst, Craig Erlam said that since the U.S. election one more day, he expects further downside pressure on the euro and traders leaning toward a “safe haven” dollar.
The Greek government introduces new austerity bill on Monday that is needed to get creditors survival for the state debt, amid mass public transport strike to protest the cuts and new media.

Dollar Rises As Greece

On Sunday, Greek Prime Minister Antonis Samaras warned again that the country could be forced out of the euro if parliament rejected austerity measures.
Eurozone finance ministers are unlikely to take a formal decision on vital Greek debt bailout next week, a European official said Monday, although it is estimated that the Greek government will run out of funds at the end of this month.
U.S. presidential election on Tuesday is still too difficult to predict. Polls show President Barack Obama and challenger Republican Mitt Romney looked balanced.
The dollar rose against the Swiss currency rose to 0.9435 francs from 0.9403 francs on Friday. The pound fell to 1.5977 dollars from 1.6020 dollars