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The euro rose by 0.3 per cent against the dollar to $1.3181 after a sharp dip of 0.6 per cent yesterday, as the possibility of a way out of Greek debt talks began to seem more plausible, Bloomberg reported.
Versus the yen, the shared currency rose 0.2 per cent to 100.51 while the dollar dropped 0.1 per cent to 76.26 yen after tumbling to 76.18 yen, the weakest level it had reached since October of last year.
Jeremy Stretch, head of currency strategy at Canadian Imperial Bank of Commerce, said the market's appetite for risk is returning to a degree.
"It doesn't look as though we've ended up with a summit with a great degree of rancour, but I don't think we've seen enough for the euro's rally to be sustained for much longer," added Mr Stretch.
The common currency struggled against its major rivals yesterday despite a 2.2 per cent gain versus the dollar last week, the news provider noted.
Posted by Greg Secker
