Euro edges higher Tuesday as Greece repays loan installment

Euro edges higher Tuesday as Greece repays loan installment

12 May 2015, 09:07
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On The euro pushed higher against the dollar on Tuesday after Greece repaid a loan installment to the International Monetary Fund.

However, markets are still concerned about the Greek financial situation.

EUR/USD was 0.30% higher to hit 1.1189, off overnight lows of 1.1130.

Early Tuesday Greece repaid a €770 million loan installment to the International Monetary Fund, easing concerns that it was on the verge of default.

A day earlier, euro group finance ministers held talks with Greek Finance Minister Yanis Varoufakis in Brussels but no there was no breakthrough.

Greece’s authorities have indicated that they hope that progress will be made but euro zone officials have indicated that too many issues still remain unresolved.

The euro climbed versus the yen and the pound, with EUR/JPY up 0.35% to 134.41 and EUR/GBP adding 0.39% to trade at 0.7184.

Elsewhere, the dollar was little changed against the yen, with USD/JPY at 120.12.

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