TOKYO: The euro held on to gains on Thursday as market players waited for fresh news from marathon talks over a bailout deal for Greece.
The single European currency fetched $1.1200 and 138.81 yen in Tokyo, marginally down from $1.1208 and 138.86 yen in New York but still up from $1.1184 and 138.73 yen in Asian trade on Wednesday.
The dollar was changing hands at 123.94 yen against 123.89 yen in US trade.
“There’s a sense Greek negotiations will extend through the end of the month and markets appear to believe there’ll eventually be an accord,” said Yasuhiro Kaizaki, vice president for global markets at Sumitomo Mitsui Trust Bank in New York.
“An agreement may spur buying momentarily, but the euro will probably be sold as focus shifts to the dollar,” he told Bloomberg News.
The dollar has recently attracted funds as the Federal Reserve is expected to raise key interest rates as early as in September.
