Investing.com - The euro was higher against the U.S. dollar on Tuesday, buoyed by persistent hopes for progress on tackling the debt crisis in the euro zone, but the single currency remained vulnerable ahead of a series of European meeting later this week.
EUR/USD hit 1.2378 during late Asian trade, the pair’s highest since Friday; the pair subsequently consolidated at 1.2375, gaining 0.25%.
The pair was likely to find support at 1.2294, Monday’s low and resistance at 1.2401, the high of August 8.
Luxemburg’s Prime Minister Jean-Claude Juncker, who also heads the group of euro zone finance ministers, was to hold talks with Greek Prime Minister Antonis Samaras on Wednesday, to discuss a two-year extension of the country’s economic reform program.
German Chancellor Angela Merkel is to meet with French President Francois Hollande on Thursday, while Antonis Samaras is to meet with the French and German leaders later in the week.
On Monday, the European Central Bank dismissed reports that reports that it may set a cap on peripheral euro zone bond yields, saying it was "absolutely misleading" to report on decisions that have not yet been taken.
The euro was slightly higher against the pound and the yen, with EUR/GBP easing up 0.10% to 0.7864 and EUR/JPY rising 0.11% to 98.16.
Trade looked likely to remain quiet on Tuesday, with no significant economic data releases on the calendar, while volumes were thin with many market participants on summer holidays.
EUR/USD hit 1.2378 during late Asian trade, the pair’s highest since Friday; the pair subsequently consolidated at 1.2375, gaining 0.25%.
The pair was likely to find support at 1.2294, Monday’s low and resistance at 1.2401, the high of August 8.
Luxemburg’s Prime Minister Jean-Claude Juncker, who also heads the group of euro zone finance ministers, was to hold talks with Greek Prime Minister Antonis Samaras on Wednesday, to discuss a two-year extension of the country’s economic reform program.
German Chancellor Angela Merkel is to meet with French President Francois Hollande on Thursday, while Antonis Samaras is to meet with the French and German leaders later in the week.
On Monday, the European Central Bank dismissed reports that reports that it may set a cap on peripheral euro zone bond yields, saying it was "absolutely misleading" to report on decisions that have not yet been taken.
The euro was slightly higher against the pound and the yen, with EUR/GBP easing up 0.10% to 0.7864 and EUR/JPY rising 0.11% to 98.16.
Trade looked likely to remain quiet on Tuesday, with no significant economic data releases on the calendar, while volumes were thin with many market participants on summer holidays.