Investing.com – The euro was up against the U.S. dollar on Tuesday, rising to an almost three-week high after reports that Germany was considering dropping its push for a rescheduling of Greek bonds to facilitate a new package of aid loans to the country.
EUR/USD hit 1.4406 during late Asian trade, the pair’s highest since May 11; the pair subsequently consolidated at 1.4380, surging 0.69%.
The pair was likely to find support at 1.4124, last Friday’s low and resistance at 1.4587, the high of May 6.
Last week the International Monetary Fund said it would withhold the next tranche of aid to Greece in June unless the European Union guaranteed to meet Athens' funding needs for next year.
The EU is drafting a second bailout package for Greece to release vital loans next month and avert the risk of it defaulting.
On Monday, the chairman of euro zone finance ministers Jean-Claude Juncker said he was optimistic after discussing further aid for Athens with French President Nicolas Sarkozy in Paris.
The euro was also higher against the pound, with EUR/GBP climbing 0.35% to hit 0.8701.
Later in the day, the euro zone was to publish preliminary data on consumer price inflation, while Germany was to publish official data on unemployment change.
Also Tuesday, the U.S. was to publish industry data on house price inflation and consumer confidence, as well as an index of manufacturing activity in the Chicago area.
EUR/USD hit 1.4406 during late Asian trade, the pair’s highest since May 11; the pair subsequently consolidated at 1.4380, surging 0.69%.
The pair was likely to find support at 1.4124, last Friday’s low and resistance at 1.4587, the high of May 6.
Last week the International Monetary Fund said it would withhold the next tranche of aid to Greece in June unless the European Union guaranteed to meet Athens' funding needs for next year.
The EU is drafting a second bailout package for Greece to release vital loans next month and avert the risk of it defaulting.
On Monday, the chairman of euro zone finance ministers Jean-Claude Juncker said he was optimistic after discussing further aid for Athens with French President Nicolas Sarkozy in Paris.
The euro was also higher against the pound, with EUR/GBP climbing 0.35% to hit 0.8701.
Later in the day, the euro zone was to publish preliminary data on consumer price inflation, while Germany was to publish official data on unemployment change.
Also Tuesday, the U.S. was to publish industry data on house price inflation and consumer confidence, as well as an index of manufacturing activity in the Chicago area.