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.
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