Euro fails to sustain gains despite Greece MPs bailout approval

The Greek parliament passed a sweeping package of austerity measures demanded by European partners as the price for opening talks on a multi-billion euro bailout package needed to keep the near-bankrupt country in the euro zone.

The vote followed a fiery debate in which many lawmakers on the left of the ruling Syriza party revolted against Prime Minister Alexis Tsipras and denied the package which passed with the support of opposition parties.

EUR/USD fell significantly widening yesterday's losses as blistering dissents erupted in Athens yesterday outside Syntagma Square while Parliament debated decisive measures that could seal a comprehensive 3^rd bailout from euro zone creditors. While EUR/JPY slipped to 135.204 from precious close 135.456.

EUR/USD closed between lows of 1.0930 on the session and a peak of 1.1036, before settling at 1.0949, down 0.55% or 0.0060. The currency pair, which has closed lower in three of the last four sessions, fell to its lowest level in more than a week. At the midway point of July, the Euro is down more than 1.65% against its American counterpart for the month.

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