EUR/USD
Euro inched higher on Wednesday, halting a four-day slump, as market players kept a close eye on major developments in the Greek debt negotiations. Greece's government said on Wednesday that it’s starting to draft an agreement with creditors that would cover the way for aid, but European officials quickly dismissed that as wishful thinking. A new round of talks begin in Brussels, and Greek government official said the two sides would start drafting a technical-level agreement, along the lines of Athens' longtime demands for no wage or pension cuts and a lower target for a primary budget surplus.
GBP/USD
The dollar trimmed gains the pound in a quiet trade on Wednesday, as investors locked in gains from the greenback's recent upward trend, although expectations for higher U.S. interest rates later this year continued to support.
USD/JPY
The Japanese yen held stronger after central bank board meeting minutes that saw no need for further easing now, while markets focused on the chances of Greece reaching a deal with creditors before next week. Inflation in Japan won't hit a sustained 2% pace this year and any pickup in prices could take considerable time, the Bank of Japan said in minutes of its April board meeting released on Wednesday.
