(MENAFN- FxPro) The euro pushed higher against the dollar on Wednesday, regaining ground after steep declines in the previous session, but gains were held in check amid guarded optimism that a resolution to Greece's debt crisis was close to being approved.
EUR/USD was up 0.24% to 1.1195, off Tuesday's lows of 1.1134. The pair ended that session down 1.51%.
The euro group of finance ministers was to hold talks later Wednesday to discuss whether to present a final plan to European Union leaders at a summit meeting on Thursday.
If an agreement is reached the Greek parliament could vote on a deal as soon as this weekend.
Demand for the dollar continued to be underpinned amid renewed expectations for higher U.S. interest rates later this year.
On Tuesday Federal Reserve Governor Jerome Powell said there was a 50-50 chance of a rate hike at the Fed's September meeting and added that he envisioned a second hike in December.
Meanwhile, U.S. data showed that new home sales jumped to a more
than seven-year high in May, bolstering the outlook for the economy.
A separate report showing a rebound in business investment plans last month also boosted the outlook for growth this quarter after a weak start to the year.
USD/JPY was at 123.94, not far from Wednesday's one-week highs of 124.18.
The euro was higher against the yen, with EUR/USD rising 0.23% to 138.72, up from the previous session's lows of 138.2.
The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, eased 0.15% to 95.46 holding below Tuesday's peaks of 95.89.
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