The Euro rate came close to a three-week high versus the U.S. Dollar’s following a statement by France’s Finance Minister suggesting the negotiations between Greek officials and private creditors are progressing positively. The shared currency also advanced against most of its peers as key E.U. Finance Ministers gathered in Brussels to discuss budget rules, the Greek debt swaps and creating a firewall for indebted E.U. nations.
Meanwhile, the Canadian Dollar climbed against the U.S. currency on reports showing that the Leading Indicators increased for a sixth month. According to Statistics Canada, they surged 0.8 percent. The Loonie continued to rally to the upside as crude oil, its biggest export, went up in price after the E.U. agreed to ban any oil imports from Iran. In addition, the currency appreciated as the outlook for global economic growth improved.
In other Forex online news, the Pound declined on an Industry release revealing that the company profit alerts rose in the last quarter, signaling that the economy in the U.K. has lost its momentum. The Sterling weakened against 12 of its counterparts on speculation that the Bank of England’s Minutes, due to be published this week, will reveal that policy makers are inclined toward implementing further quantitative easing.
Lastly, the South Pacific currencies rallied versus the greenback in anticipation of U.S. reports expected to show a remarkable acceleration in economic growth and on optimism that the meeting in Brussels will help stem the sovereign debt crisis in the E.U.