Investing.com - The euro was steady against the dollar on Wednesday as uncertainty over whether Greece can reach a compromise deal to extend its bailout program kept investors cautious.
EUR/USD dipped 0.10% to 1.1309, while EUR/JPY drifted up 0.11% to 135.31.
Trade remained thin with markets in Japan closed for a national holiday.
The single currency was supported by reports that the European Commission would propose a six-month extension to Greece’s existing bailout program at an emergency meeting of the euro group of finance ministers, due to take place later in the day.
Athens is expected to ask for a bridge loan to cover its funding needs until September, and to also propose new economic reforms to replace some of the harshest austerity conditions attached to its bailout.
Greek Prime Minister Alexis Tsipras has said he will deliver on pre-election pledges to roll back austerity measures and reject an international bailout extension, fuelling fears over Greece’s future in the euro zone.
Elsewhere, USD/JPY was up 0.21% to one-month highs of 119.67 from 119.41 late Tuesday.
The yen weakened slightly after Bank of Japan Governor Haruhiko Kuroda said the Group of 20 nations didn't criticize his banks monetary easing program, indicating confidence to continue on the path of monetary stimulus.
In other trade, the U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, edged up to 94.92.