Euro rises on hopes for Greek debt deal

AFP, TOKYO: The euro rose against other major currencies yesterday as new reform proposals by Greece fuelled optimism that Athens may be able to clinch a bailout deal with its creditors and avoid defaulting on its debt.
The single currency climbed to $1.1396 and 139.87 yen in Tokyo from $1.1349 and 139.23 yen in New York late Friday.
The dollar fetched 122.73 yen against 122.69 yen in US trade.
Eurozone leaders were set to hold an emergency meeting yesterday.
Athens put forward new proposals to its creditors ahead of the crunch summit, offering a ray of hope that a deal to end the country's debt crisis can be struck after five months of deadlock.
"It is difficult to forecast how the summit will turn out but it seems there is no small deal of optimism in markets that they will come to an agreement in the end," said Shinya Harui, a Europe-focussed financial markets analyst at Nomura Securities in Tokyo.

Euro rises on hopes for Greek debt deal

AFP, TOKYO: The euro rose against other major currencies yesterday as new reform proposals by Greece fuelled optimism that Athens may be able to clinch a bailout deal with its creditors and avoid defaulting on its debt. The single currency climbed to $1.1396 and 139.87 yen in Tokyo from $1.1349 and 139.23 yen in New York late Friday. The dollar fetched 122.73 yen against 122.69 yen in US trade. Eurozone leaders were set to hold an emergency meeting yesterday. Athens put forward new proposals to its creditors ahead of the crunch summit, offering a ray of hope that a deal to end the countrys debt crisis can be struck after five months of deadlock. It is difficult to forecast how the summit will turn out but it seems there is no small deal of optimism in markets that they will come to an agreement in the end, said Shinya Harui, a Europe-focussed financial markets analyst at Nomura Securities in Tokyo.