Euro up on hopes of Greek deal

The euro rose yesterday amid renewed optimism that Greece will reach a deal with its creditors while the yen hit a three-month high versus the US dollar for a third day, increasing speculation that Japan may step in to halt its rise.

Greek Finance Minister Evangelos Venizelos said talks with private creditors on a bond swap deal that is key to the country avoiding an unruly default were “one formal step away”.

The euro’s fortunes have waxed and waned inrecent days as investors focused on each new headline regarding Greece.