Investing.com - The euro edged higher against the U.S. dollar on Tuesday, but ongoing uncertainty over negotiations on restructuring Greek debt weighed on demand for the single currency.
EUR/USD hit 1.3161 during late Asian trade, the pair’s highest since Friday; the pair subsequently consolidated at 1.3158, adding 0.22%.
The pair was likely to find support at 1.3027, Monday’s low and a three-day low and resistance at 1.3202, Friday’s high.
Greek Prime Minister Lucas Papademos was expected to meet with coalition leaders in a bid to agree on requirements for a second bailout later in the day, after postponing talks on Monday and failing to finalize an agreement over the weekend.
European Union officials have said a final agreement on Greece’s EUR130 billion bailout must be approved by February 15, in order to avert a default when a EUR14.5 billion bond repayment comes due on March 20.
The euro was fractionally higher against the pound, with EUR/GBP inching up 0.06% to hit 0.8302.
Later Tuesday, Germany was to publish official data on industrial production, while Federal Reserve Chairman Ben Bernanke was due to testify on the economic outlook and federal budget situation before the Senate Budget Committee in Washington.
EUR/USD hit 1.3161 during late Asian trade, the pair’s highest since Friday; the pair subsequently consolidated at 1.3158, adding 0.22%.
The pair was likely to find support at 1.3027, Monday’s low and a three-day low and resistance at 1.3202, Friday’s high.
Greek Prime Minister Lucas Papademos was expected to meet with coalition leaders in a bid to agree on requirements for a second bailout later in the day, after postponing talks on Monday and failing to finalize an agreement over the weekend.
European Union officials have said a final agreement on Greece’s EUR130 billion bailout must be approved by February 15, in order to avert a default when a EUR14.5 billion bond repayment comes due on March 20.
The euro was fractionally higher against the pound, with EUR/GBP inching up 0.06% to hit 0.8302.
Later Tuesday, Germany was to publish official data on industrial production, while Federal Reserve Chairman Ben Bernanke was due to testify on the economic outlook and federal budget situation before the Senate Budget Committee in Washington.