Investing.com - The euro held steady against the U.S. dollar on Wednesday, amid mounting concerns over whether Greece will reach a compromise deal with creditors to extend its bailout program.
EUR/USD hit 1.1289 during European afternoon trade, the session low; the pair subsequently consolidated at 1.1312.
The pair was likely to find support at 1.1223, the low of January 27 and resistance at 1.1488, the high of February 6.
Investors remained cautious as Greece was to hold crunch talks with European Union officials later in the day.
Greece’s current bailout is due to expire on February 28 and the new Greek government does not want it extended, fuelling concerns that a conflict with international creditors could trigger the country’s exit from the euro zone.
Athens was expected to ask for a bridge loan to cover its funding needs until September, and to also propose new economic reforms to replace 30% of its massive bailout deal.
Prime Minister Alexis Tsipras's government won a confidence vote on Tuesday evening and reiterated that he will deliver on pre-election pledges to roll back austerity measures and reject an international bailout extension.
The euro fell to seven-year lows against the pound, with EUR/GBP sliding 0.36% to 0.7395.