The euro rose against the dollar Tuesday ahead of key votes in Greece that will determine whether the indebted country receives the aid it needs in July to avoid a debt default, AP reported. The dollar also lost ground against other major currencies. Investors are generally expecting the Greek government to pass the spending cuts required by international lenders, despite strikes and angry protests by Greeks, according to a research note from Brown Brothers Harriman analysts. The so-called austerity measures must pass before Greece can access emergency loans. Without the aid, Greece is expected to default. Investors fear a big blow to the European banks holding Greek bonds and more pain for Europe's other indebted countries would follow a default. Votes are scheduled for Wednesday and Thursday. In morning trading Tuesday in New York, the euro jumped to $1.4394 from $1.4266. The British pound rose to $1.6023 from $1.5979. The dollar fell to 80.72 Japanese yen from 80.97 yen. The euro was also getting a boost from growing hopes for a deal on a second round of aid for Greece beyond last year's bailout package, the analysts said. -- SPA
