The euro hit a three-week high against the U.S. dollar after official Greek election projections showed parties committed to Greece's multi-billion-euro bailout were on course to secure a slim parliamentary majority.

The euro rose to around $1.2730 according to Reuters data in early trade Monday in Australasia, from around $1.2655 late in New York on Friday. It hit its strongest since May 22 according to Reuters charts.

Against the yen, it rose to 100.28 yen versus 99.53 yen late on Friday.

Official vote projections from Greece's interior ministry showed the pro-bailout New Democracy taking 29.5 percent of the vote, with SYRIZA in second place with 27.1 percent. The Socialist PASOK followed in third place with 12.3 percent.

The dollar rose to around 78.90 yen, compared with 78.65 yen in late trade in New York on Friday, while currencies considered to be high risk, including the Australian and New Zealand dollar rose.