The euro rose for a fourth day but was off a six-week high against the dollar on Monday as investors debated the outlook for a conclusive agreement to resolve the eurozone's debt crisis with a second regional summit scheduled for Wednesday.
The euro had gained in early trade after European leaders neared a deal over the weekend on bank recapitalisation, and eurozone officials said France and Germany were close to agreement on how to use the European Financial Stability Facility to stave off contagion in the bond market.
The euro was last up 0.3 percent at $1.3933. But any delay in releasing a convincing plan from Wednesday's summit, or even a delay in a statement from leaders of the eurozone economies, could cause the euro to fall, analysts said. Against the yen, the dollar was down 0.2 percent at 76.11 yen, not far above Friday's all-time low of 75.78 yen on electronic trading platform EBS. The growth-linked Australian dollar was up 0.9 percent at $1.0464, though it was off an earlier six-week high of $1.0473.
Comments
Comments are closed.