Euro Rallies on Pro-Bailout Parties' Gains

The euro has gained ground against the US dollar in Asian trading on Monday morning after new opinion polls indicated that Greece's conservatives, who support the bailout, had surged ahead of the anti-bailout Syriza party.

The latest polls showed that the pro-bailout parties are gaining momentum, which has led to a relief rally in the euro. The currency traded as high as 1.2578 compared to Friday's close of 1.2515 in New York, representing a minor gain of 0.11%.

The euro continued its upward trend by 8 a.m. Singapore time, reaching 1.2560. Analysts believe that this rally is largely due to the reduced risk of a chaotic Greek default, should the pro-bailout parties form a government.