Investing.com - The euro was higher against the U.S. dollar and the yen on Tuesday, as hopes for an imminent agreement on a debt restructuring deal for Greece supported demand for the single currency.
During European late morning trade, the euro was up against the U.S. dollar, with EUR/USD rising 0.35% to hit 1.3191.
The euro pushed higher after Greek Prime Minister Lucas Papademos said Monday that negotiators had made "significant progress" in talks aimed at reaching a debt swap plan and aimed to have a definitive agreement by the end of this week.
Also Monday, European Union leaders agreed on a fiscal union pact and signed off on the details of a EUR500 billion permanent bailout fund for the euro zone that will come into force in July.
Earlier Tuesday, official data showed that the number of unemployed people in Germany fell more-than-expected in January, while the country’s jobless rate dropped to a record low, easing concerns over the economic outlook for the region’s biggest economy.
But investors remained cautious amid concerns over Portugal’s debt load, as the yield on the country’s 10-year government bonds rose above 17% earlier, amid renewed fears the country may need a second international bailout.
The euro was higher against the yen, with EUR/JPY adding 0.43% to hit 100.78.
Meanwhile, the greenback fell to its lowest level against the yen since Japan’s intervention in the foreign exchange market in October, prompting Japanese Finance Minister Jun Azumi to warn that he will take "decisive steps" if speculators push the yen up too sharply.
The shared currency was fractionally lower against the pound and the Swiss franc, with EUR/GBP inching down 0.06% to hit 0.8360 and EUR/CHF dipping 0.03% to hit 1.2047.
The pound was almost unchanged after official data showed that lending in the U.K. remained subdued in December, rising by GBP0.4 billion, below expectations for GBP1.2 billion increase.
A separate report showed that consumer confidence in the U.K. rose to its highest level in seven months in January.
The euro continued to struggle close to recent record lows against the Australian and New Zealand dollars, with EUR/AUD shedding 0.23% to hit 1.2372 and EUR/NZD tumbling 0.70% to hit 1.5929.
Earlier Tuesday, a report showed that Australian business confidence edged slightly higher in December, indicating that two successive rate cuts by the country’s central bank have supported a recovery in economic sentiment.
The euro was almost unchanged against the Canadian dollar, with EUR/CAD dipping 0.01% to hit 1.3159.
Later in the day, the U.S. was to release industry data on house price inflation, as well as a report on manufacturing activity in the Chicago region. The country was also to publish a report on consumer confidence.
During European late morning trade, the euro was up against the U.S. dollar, with EUR/USD rising 0.35% to hit 1.3191.
The euro pushed higher after Greek Prime Minister Lucas Papademos said Monday that negotiators had made "significant progress" in talks aimed at reaching a debt swap plan and aimed to have a definitive agreement by the end of this week.
Also Monday, European Union leaders agreed on a fiscal union pact and signed off on the details of a EUR500 billion permanent bailout fund for the euro zone that will come into force in July.
Earlier Tuesday, official data showed that the number of unemployed people in Germany fell more-than-expected in January, while the country’s jobless rate dropped to a record low, easing concerns over the economic outlook for the region’s biggest economy.
But investors remained cautious amid concerns over Portugal’s debt load, as the yield on the country’s 10-year government bonds rose above 17% earlier, amid renewed fears the country may need a second international bailout.
The euro was higher against the yen, with EUR/JPY adding 0.43% to hit 100.78.
Meanwhile, the greenback fell to its lowest level against the yen since Japan’s intervention in the foreign exchange market in October, prompting Japanese Finance Minister Jun Azumi to warn that he will take "decisive steps" if speculators push the yen up too sharply.
The shared currency was fractionally lower against the pound and the Swiss franc, with EUR/GBP inching down 0.06% to hit 0.8360 and EUR/CHF dipping 0.03% to hit 1.2047.
The pound was almost unchanged after official data showed that lending in the U.K. remained subdued in December, rising by GBP0.4 billion, below expectations for GBP1.2 billion increase.
A separate report showed that consumer confidence in the U.K. rose to its highest level in seven months in January.
The euro continued to struggle close to recent record lows against the Australian and New Zealand dollars, with EUR/AUD shedding 0.23% to hit 1.2372 and EUR/NZD tumbling 0.70% to hit 1.5929.
Earlier Tuesday, a report showed that Australian business confidence edged slightly higher in December, indicating that two successive rate cuts by the country’s central bank have supported a recovery in economic sentiment.
The euro was almost unchanged against the Canadian dollar, with EUR/CAD dipping 0.01% to hit 1.3159.
Later in the day, the U.S. was to release industry data on house price inflation, as well as a report on manufacturing activity in the Chicago region. The country was also to publish a report on consumer confidence.