Euro gains as Greece passes austerity steps

The 'yes' vote by Greek lawmakers, while largely expected, provided some relief as any failure to achieve this would have led to a default by Greece, shifting immediate market focus to how the euro zone, especially its paymaster Germany, will react.

"I'm not sure if it's time for a hurrah. It's still uncertain whether euro zone finance ministers will agree on the bailout at a meeting planned on Wednesday," said Masafumi Yamamoto, chief forex strategist at Barclays Capital.

The euro gained about 0.3 percent to $1.3235, recouping some of the losses made on Friday and about a cent below a two-month high of $1.3322 hit last week, with its 90-day moving average of $1.3314 seen as a major resistance point.

Euro zone finance ministers also expect Greece to explain how 325 million euros ($430 million) of this year's total budget cuts -- as yet unspecified -- will be achieved before it agrees to the bailout in a meeting planned on Wednesday.
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