LONDON: The dollar steadied against major counterparts in early Asian trading on Tuesday, managing to regain its footing after a sharp drop against the euro on solid German data and higher Bund yields.
The euro was buying $1.1281, down 0.1 percent on the day and retreating from its overnight peak of $1.1307, after better-than-expected German industrial output figures.
But Greece’s ongoing talks to wrangle an agreement with its lenders capped the common currency’s rise.
Greek officials met on Monday with EU Economics Commissioner Pierre Moscovici on what reforms Greece must implement to get new loans, but there was no new proposal from Athens to which its creditors could agree to, an EU official said.
“Greek officials continue to reject the EU/IMF proposal so clearly no meaningful progress is being made which should have been negative for the currency and yet euro traded sharply higher,” Kathy Lien,
