Euro firm amid Greece market return, record German business morale

Investing.com - The euro was firm Tuesday above $1.16 as euro-zone sentiment remained upbeat.The single currency was up 0.12% at $1.1657 at 06:15 ET after a high of $1.1684.Greece is returning to the primary bond market for the first time since 2014.Its 5-year bond was reportedly initially priced to yield 4.875%, below the levels seen in 2014.Visiting European Economic Affairs Commissioner Pierre Moscovici said in Athens Greece had reached a "turning point."The Ifo economic institute Tuesday reported that German business morale unexpectedly rose in July to a new record high.The business climate index rose to 116.0 in July from 115.2 in June when it was expected to fall to 114.9.The euro hit two-year highs last week buoyed by remarks by ECB chief Mario Draghi deemed hawkish.The ECB Governing Council is due to discuss a possible shift in its ultra-accommodative policy in the fall.The IMF Monday slightly raised its growth forecasts for the euro zone for this year and the next.The dollar index was flat at 93.82 near 13-month lows.s.