A big mover during the Asian trading
session was the Australian dollar, which jumped after the Reserve Bank
of Australia stood pat on monetary policy as widely expected but
refrained from providing an easing bias that some in the market were
looking for.
The battered Aussie was up 1 percent at $0.7683 AUD=D4, pulling away from a seven-week low of $0.7598 struck overnight against a buoyant dollar.
The euro edged up 0.2 percent to $1.0941 EUR=, having fallen as low as $1.0887 overnight as it continued to retreat from last week's peak of $1.1006.
Traders said the fact that its decline has been relatively shallow suggested there was some degree of optimism that Greece will ultimately secure a deal and avoid a debt default.
That could also explain why the common currency actually rose on the yen, reaching its highest in over two weeks at 136.62 EURJPY=R.
The leaders of Germany, France and Greece's international creditor institutions agreed late on Monday to work with "real intensity" in the coming days as they try to clinch a deal in debt negotiations with Athens.
Athens is due to make a 300-million-euro ($327.93 million) repayment to the IMF on Friday amid growing doubts about its ability to meet all this month's financial obligations.
The euro edged up 0.2 percent to $1.0941 EUR=, having fallen as low as $1.0887 overnight as it continued to retreat from last week's peak of $1.1006.
Traders said the fact that its decline has been relatively shallow suggested there was some degree of optimism that Greece will ultimately secure a deal and avoid a debt default.
That could also explain why the common currency actually rose on the yen, reaching its highest in over two weeks at 136.62 EURJPY=R.
The leaders of Germany, France and Greece's international creditor institutions agreed late on Monday to work with "real intensity" in the coming days as they try to clinch a deal in debt negotiations with Athens.
Athens is due to make a 300-million-euro ($327.93 million) repayment to the IMF on Friday amid growing doubts about its ability to meet all this month's financial obligations.
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