31st January 2012
The European single currency has seen an improvement against the US dollar as a result of new hopes regarding a deal for Greece.
Reuters reports forex trading for the single currency has been positive so far today (January 31st) after Greek prime minister Lucas Papademos announced negotiators have made "significant progress" in regards to the restructuring of the nation's debts.
As of 10:10 GMT, the euro had gained 0.4 per cent to stand at to $1.3180, just shy of a six-week high.
Sebastien Galy, FX strategist at Societe Generale, told Reuters:"The market is currently keeping aside the various risk factors like the possibility of a Portuguese debt restructuring on hopes of more liquidity injection by major central banks."
Earlier this week, the euro took a dive against a number of high-profile currencies - including the greenback and the Japanese yen - after investors began to lose confidence that a deal to tackle the Greek deficit would come about.
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