Dollar surges vs euro on Greece worries, US vote

The dollar hit nearly a two-month high against the euro Monday on renewed worries about Greece's debt crisis and with Tuesday's US elections looming.

At 2200 GMT, the euro was traded at $1.2791, having fallen earlier in the day to $1.2767, its lowest level since September 11.

The European currency fetched $1.2835 around 2100 GMT Friday.

The euro also weakened against the yen, falling to 102.69 yen from 103.30 yen late Friday, while the dollar dropped to 80.28 yen from 80.47 yen.

The dollar, seen as a safe haven in times of uncertainty, gained as Greece's sovereign debt disaster drew increased concerns.

Alpari analyst Craig Erlam said that with the US elections one day away, he expected further downside pressure on the euro and traders leaning toward the safe-haven dollar.

Greece's government introduced a new austerity bill Monday needed to get a creditor lifeline for the debt-strapped nation amid mass public transport and media strikes called to protest the new cuts.

On Sunday, Greek Prime Minister Antonis Samaras warned again that the country could be forced out of the euro if parliament rejected the austerity measures.

Eurozone finance ministers are unlikely to take a formal decision on a crucial bailout loan for Greece next week, a European official said Monday, despite expectations that the Greek government will run out of funds later this month.

The US presidential vote Tuesday remained too close to call. Polls showed President Barack Obama and Republican challenger Mitt Romney in a dead heat.

"Any clear indication of how the election is going won't be reported until the later hours here in North America as voters get out of work and head to their polling stations. Therefore, more indecision and waiting are the most likely outcomes for trade during the day tomorrow," said Neal Gilbert at GFT.

The dollar gained against the Swiss currency, rising to 0.9435 francs from 0.9403 late Friday.

The pound fell to $1.5977 from $1.6020.

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.2571-0.001-0.08%
    USDSGD=X
    1.7388-0.0014-0.08%
    EURSGD=X
    2.1124-0.0014-0.07%
    GBPSGD=X
    81.4303+0.1382+0.17%
    SGDJPY=X
    6.1673+0.0047+0.08%
    SGDHKD=X
    2.6016+0.0032+0.12%
    SGDMYR=X
    9,205.9277-50.0986-0.54%
    SGDIDR=X
    4.9751+0.0081+0.16%
    SGDCNY=X
    1.1659+0.0007+0.06%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,291.90+1.30+0.10%
    GCM14.CMX
    19.54-0.15-0.75%
    SIK14.CMX
    91.62-1.25-1.35%
    ^XAU
    3.120.00+0.05%
    HGK14.CMX
    101.96+0.02+0.02%
    CLM14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.74+0.03
    ^FVX
    2.690.00
    ^TNX
    3.460.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    2.22+0.010+0.45%
    JS8.SI
    1.16+0.010+0.87%
    U6C.SI
    0.122-0.001-0.81%
    B22.SI
    1.335-0.020-1.48%
    G13.SI
    0.605-0.010-1.63%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    1.315+0.084+6.82%
    O9A.SI
    0.13+0.005+4.00%
    I9T.SI
    0.16+0.008+5.26%
    5HH.SI
    0.23+0.010+4.55%
    D6U.SI
    0.27+0.005+1.89%
    DM0.SI
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    % Losers
    NamePriceChange% Chg
    0.10-0.010-9.09%
    CL7.SI
    0.151-0.009-5.63%
    A03.SI
    0.705-0.030-4.08%
    L02.SI
    0.30-0.015-4.76%
    K29.SI
    0.205-0.010-4.65%
    510.SI