Euro holding well despite Greek 'no'

London

FOREIGN exchange markets reserved judgement on Greece's place in the euro and the overall solidity of the common currency project on Monday, prodding the euro just over half a cent lower after Greeks voted "No" to further austerity.

The euro had sunk below US$1.10 in initial trade in Asia after a vote that a number of major banks said made a "Grexit" the most likely option to end months of crisis and a cash crunch that has seen Greece's banks almost completely closed for a week.