(MENAFN- The Peninsula) The dollar headed higher against the euro Monday, with markets on the watch for movement in talks on a new Greek bailout deal.
Traders held out hopes for progress toward an agreement after a weekend of talks, but worries of a breakdown were also still in the air.
Experts from the IMF and the EU are scrutinizing a list of proposed reforms put forward by Athens to try to unblock a new 7.2 billion euro ($7.81 billion) tranche of EU-IMF loans and avoid a debt default.
But Greece was told the list needs more work and details.
"We're not there yet," European Commission spokesman Margaritis Schinas warned.
However, he added, "the fact that experts worked through the entire weekend and continue today is a positive sign."
Craig Erlam, senior market analyst at Oanda trading group, was upbeat.
"I just don't think people are buying into the 'Grexit' anymore," he said.
"A deal is always done and it would be truly bizarre if the same didn't happen this time."
Also boosting the dollar - which rose on the British pound and Swiss franc as well - were hints from China that more easing might be in the works for the sagging Chinese economy.
People's Bank of China governor Zhou Xiaochuan told the Boao Forum on Sunday that "we need to be vigilant to see if the disinflation trend will continue, and if deflation will happen or not."
"China can have room to act," both with interest rates and "quantitative" measures, he added in comments reported by Bloomberg News.
2100 GMT Monday Friday
EUR/USD 1.0825 1.0890
EUR/JPY 130.10 129.74
EUR/CHF 1.0475 1.0471
EUR/GBP 0.7315 0.7319
USD/JPY 120.18 119.14
USD/CHF 0.9677 0.9617
GBP/USD 1.4800 1.4878
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