Investing.com - The euro edged higher against the U.S. dollar on Friday, easing off the previous session's one-and-a-half month trough after Greece received a €7 billion bridging loan from the euro zone.
EUR/USD hit 1.0903 during late Asian trade, the session high; the pair subsequently consolidated at 1.0889, easing up 0.12%.
The pair was likely to find support at 1.0853, Thursday's low and a one-a-half month low and resistance at 1.0963, Thursday's high.
The single currency found some support after euro zone ministers agreed on Thursday to give Greece a €7 billion bridging loan from a European Union-wide fund to keep its finances afloat until a bailout is approved.
The loan was expected to be confirmed on Friday by all EU member states.
The news came after the European Central Bank increased its emergency lending to Greek banks by €900 million and added that it is operating under the assumption that Greece will remain in the euro zone.
ECB President Mario Draghi said on Thursday that several positive things have happened to allow the increase in emergency liquidly assistance and that it now appeared that Greece would make the repayment and clear its arrears to the International Monetary Fund.
Meanwhile, demand for the dollar remained broadly supported after Federal Reserve Chair Janet Yellen's two-day testimony before U.S. Congress left investors believing that interest rates will be raised later this year.
However, speaking to the Senate Banking Committee on Thursday, a day after appearing before the House Financial Services Committee, Yellen again avoided specifying exactly when the Fed is likely to start lifting its benchmark rate from near zero.
The euro was lower against the pound, with EUR/GBP slipping 0.13% to 0.6959.