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Forex – EUR/USD close to 1-month high on Greece deal hopes

ForexNov 26, 2012 07:39AM GMT Add a Comment
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Investing.com - The euro was trading close to a one-month high against the U.S. dollar on Monday, as hopes that an agreement on a delayed bailout payment for Greece was close supported the single currency.

EUR/USD hit 1.2985 during late Asian trade, the session high; the pair subsequently consolidated at 1.2979, inching up 0.04%.

The pair was likely to find support at 1.2867, Friday’s low and near-term resistance at 1.3019, the high of October 31.

The euro remained supported ahead of a meeting of euro zone finance ministers later in the day to discuss whether to release Greece’s next tranche of aid.

German Chancellor Angela Merkel said she believes a deal can be reached at Monday’s talks, while the French finance minister said over the weekend that an agreement is close.

The euro was steady against the pound, with EUR/GBP inching up 0.04% to 0.8094, but was lower against the yen, with EUR/JPY slipping0.21% to 106.70.

Later in the day, Germany was to release data on German consumer climate.

Forex – EUR/USD close to 1-month high on Greece deal hopes

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