The euro edged up higher against the U.S. dollar and Japanese yen at the close Tuesday, although it struggled to gain momentum amid ongoing fears that Greece might have to restructure its debt.
Recent concerns about debt problems in the outskirts of the eurozone countries has pushed the euro rose more than 5 cents below the recent peak near $ 1.50, reached last week. Traders expect the euro to slide further, approaching support around $ 1.4150 in the coming days.
The euro rose earlier after the Dow Jones News reported the Greeks can receive new help a number of รข, ¬ 60 billion as soon as possible in June to help meet the funding requirements. The currency slid back after Greece has denied the report.
The euro rose 0.3 percent at $ 1.4403, well above the session low of $ 1.4270 on trading platform EBS. It reached the peak closing at $ 1.4412 in afternoon trade as gains in U.S. stocks encouraged risk appetite.
Analysts said the euro vulnerable to rising concerns of debt even if investors stay focused on prospects for interest rates higher in the euro zone compared with the United States.
A step lower to test support around $ 1.4150, near a low position in mid-April and 38.2 percent retracement of the increase from January to May at around $ 1.4145.
The euro rose 1 percent against the yen at 116.39 yen after earlier sliding to the lowest 6-weeks. Dollar up 0.7 percent at 80.80 yen
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