ForexLive Asia-Pacific wrap: New Democracy wins Greek election

New Democracy 29.7% vs Syriza 26.9% New Democracy and Pasok win combined 162 seats Chinese property prices -1.5% y/y EU source: Greek bailout review won't be easy French Socialist party takes majority Japan may extend the lawmaking session by two months Germany applauds Greek election result NZ consumer confidence lowest since Q1 2011 NZIER sees 2.1% growth vs 2.7% prior Rightmove: UK house prices +2.4% y/y in June It was the election outcome the euro bulls were hoping for but not the type of gains they would have been hoping for. EUR/USD traded as high as 1.2748 as Tokyo opened but offers ahead of 1.2750 capped the move. Speculation the Fed is less-likely to act weighed on sentiment as did the Chinese housing data. USD/JPY edged higher in the early going above 79.00 and then ran through stops above 79.20 but was capped by 79.33 before sliding back to 79.13. Cable was completely unable to make gains despite the better sentiment in Europe. Buying in EUR/GBP was the culprit as short-term safety was unwound. Gold was volatile, dropping to $1607 but surging back to $1630 before edging back to $1623.