Forex Trading News – Greek austerity plan vote (update)

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The Greek Parliament has just approved the new austerity plan suggested by the country’s creditors, in order to proceed with the next tranches and to a new improved rescue package for the heavily indebted peripheral economy. At the vote, 155 members of the parliament have voted in favour of the new measures amid riots outside the Parliament House between protesters who attempted to invade the building and riot police, which was forced to make extensive use of tear gas. During the voting the EURUSD pair has faced high turbulence, indicatively at 13:46 GMT the pair opened with a gap of some 53 pips lower than the closing of the previous minute at 1.4340, moving further lower to 1.4331. After the outcome of the voting was disclosed publicly the Euro rebounded spectacularly climbing to 1.4442, within few minutes. Currently the EURUSD pair is trading at 1.4397 and investors hope for more Euro gains against its counterparts, as the outcome of the Greek voting was desirable from the EU and the IMF and in favour of the stability in Euro zone.